12.02.202623:43:07UTC+00US Futures Rise Ahead of CPI Report

US stock futures inched higher on Friday, recovering modestly after the major averages slumped in the previous session amid renewed concerns over artificial intelligence, as investors looked ahead to the January consumer price index release. Economists expect the CPI to show headline inflation slowing to 2.5% from 2.7%, with core inflation easing to 2.5% from 2.6%.

In extended trading, Applied Materials jumped 12% after reporting stronger-than-expected earnings and issuing an upbeat outlook. Rivian climbed 16% on the back of robust vehicle delivery guidance for the year. In contrast, Pinterest tumbled 18% after missing quarterly expectations and providing a softer outlook.

During Thursday’s regular session, the Dow Jones Industrial Average lost 1.34%, the S&P 500 fell 1.57%, and the Nasdaq Composite dropped 2.03%. The downturn was driven by ongoing doubts about the sustainability of elevated AI-related capital expenditures, with worries about disruption to traditional business models weighing particularly on software, real estate, and trucking stocks.