U.S. Stock Futures Dragged Lower by Tech Shares

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U.S. stock futures declined on Friday, led by technology shares, suggesting the recent uptick in demand for growth stocks was petering out at the end of the week.

Futures on the technology-heavy Nasdaq-100 dropped 1.3%. S&P 500 futures slipped 0.4% and futures tied to the Dow Jones Industrial Average traded flat. Changes in futures don’t necessarily predict movements after the opening bell.

Europe stocks fell Friday after a four-session winning streak. The Stoxx Europe 600 was down 0.5% in morning trade. Communication services and information technology sectors drove the losses while the financial and real-estate sectors rose.

Barclays

jumped 3% for a two-day run of gains and

Groupe Bruxelles Lambert

added 2.1%.

The U.K.’s FTSE 100 shed 0.2%. Other stock indexes in Europe also mostly slipped as France’s CAC 40 declined 0.2%, the U.K.’s FTSE 250 lost 0.4% and Germany’s DAX fell 0.6%.

The Swiss franc, the euro and the British pound were down 0.4%, 0.1% and 0.2% respectively against the U.S. dollar.

In commodities, Brent crude was down 0.3% to $69.39 a barrel. Gold also fell 1% to $1,705.30 a troy ounce.

The German 10-year bund yield rose to minus 0.311% and 10-year U.K. government debt known as gilts yields were up to 0.784%. 10-year U.S. Treasury yields gained to 1.585% from 1.525% on Thursday. Yields and prices move in opposite directions.

Indexes in Asia were mixed as Japan’s Nikkei 225 index climbed 1.7% and China’s benchmark Shanghai Composite rose 0.5% after falling as much as 0.6% earlier, whereas Hong Kong’s Hang Seng was down 0.9% after gaining 0.6% during the session.

A banner for South Korea’s Coupang adorned the New York Stock Exchange facade before the company’s IPO on Thursday.



Photo:

Courtney Crow/Associated Press

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