U.S. stock futures declined on Friday morning as tech stocks, particularly artificial intelligence (AI) plays, remained under pressure amid concerns about elevated valuations. Moreover, the hawkish tone of Federal Reserve officials raised doubts about whether the central bank will announce a rate cut next month. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 1.40%, 0.95%, and 0.62%, respectively, at 8:26 a.m. EST on November 14.
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During Thursday’s regular trading session, all three major indexes finished lower amid uncertainty over the Federal Reserve’s next policy move and a steep sell-off in technology stocks. The Dow Jones, the Nasdaq Composite, and the S&P 500 fell 1.65%, 2.29%, and 1.66%, respectively, yesterday.
Traders are increasingly uncertain about the Federal Reserve cutting interest rates in December. The recent end of a six-week government shutdown has added to market uncertainty, as several key economic data updates might not be released, potentially complicating the Fed’s decision-making process.
Coming to trending stocks, Walmart (WMT) shares were down about 3% in Friday’s pre-market trading after the retailer announced that CEO Doug McMillon will retire in January. Meanwhile, Applied Materials (AMAT) stock plunged more than 7% after the company cautioned that it expects spending on chipmaking equipment in China to fall in 2026 amid U.S. export controls.
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