Nasdaq and S&P 500 futures decline as chipmakers slip
U.S. equity futures dropped on Friday as major chipmakers including Nvidia and AMD saw premarket declines following a sustained rally. Investors are awaiting the May nonfarm payrolls report to gauge the health of the labor market and its potential impact on future Federal Reserve interest rate policy.
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United States equity futures fell Friday morning as NVIDIA CORP led a 1.2% to 2.5% decline across major semiconductor stocks. S&P 500 E-minis dropped 29.25 points, or 0.38%, while Nasdaq 100 E-minis fell 269 points, or 0.88%, and Dow E-minis rose 70 points, or 0.14%. The S&P 500 is tracking toward its first weekly loss since April following a rally fueled by AI and earnings growth.
