Stock Futures Little Changed After Indexes Rebound From Tech Rout

Stock futures were little changed Thursday, a day after major indexes rebounded from a selloff in tech stocks caused by worries of AI valuations.

Futures associated with the benchmark S&P 500 and tech-heavy Nasdaq were up less than 0.1%, while those affiliated with the blue-chip Dow Jones Industrial Average ticked down less than 0.1%.

The three major indexes closed higher yesterday, the record-breaking 36th day of the U.S. government shutdown, as investors shook off concerns about an AI bubble and the Supreme Court voiced skepticism about President Donald Trump’s tariffs.

The 10-year Treasury yield, which influences interest rates on all kinds of consumer loans, ticked lower to 4.14% from 4.16% at yesterday’s close. The U.S. dollar index, which tracks the value of the greenback against a basket of foreign currencies, fell 0.2% to 99.98. Bitcoin, which Tuesday fell below $100,000 for the first time since June, was trading around $103,100, down slightly from the day’s high of around $104,200.

Gold futures rose 0.6% to back above $4,000 an ounce, while West Texas Intermediate futures, the U.S. crude oil benchmark, rose 0.8% back above $60 a barrel.

Tesla (TSLA) stock rose less than 1% ahead of a shareholder vote on CEO Elon Musk’s trillion-dollar pay package and other proposals in a meeting set to start at 3 p.m. CT today. A final count likely will come in a few days in a Securities and Exchange Commission filing.

In post-earnings moves, Snapchat parent Snap (SNAP) stock surged 18%; AppLovin (APP) jumped 7%; U.S.-listed shares of Arm Holdings (ARM) advanced 6%; Duolingo (DUOL) nosedived 22%; Qualcomm (QCOM) fell 2.5%; and Robinhood Markets (HOOD) slipped 1%.

Elsewhere, shares of U.S. carriers Delta Air Lines (DAL), United Airlines (UAL), American Airlines (AAL), Southwest Airlines (LUV), and JetBlue Airways (JBLU) all declined modestly as the Federal Aviation Administration said it is ordering 10% traffic reductions at 40 major airports to relieve unpaid air-traffic controllers amid the government shutdown.

Shares of Metsera (MTSR) surged 8.5% on news Pfizer (PFE) intended to sweeten its offer to acquire the weight-loss startup amid a bidding war with Ozempic and Wegovy maker Novo Nordisk (NVO). Pfizer stock ticked higher and U.S.-listed shares of Novo Nordisk fell 2%.