Wall Street was having a small rebound before the opening bell Friday but remains on track for another dismal week of losses, the Associated Press reports. Futures for the S&P 500 inched up 0.2%, while futures for the Dow Jones Industrial Average rose 0.4%. The S&P 500 has lost 2.5% this week on top of the previous week’s 1.7% drop.
The S&P 500 has fallen five out of the past six trading sessions after setting an all-time high last week. Concerns about the U.S. economic outlook have been behind much of the drop, including worries over how tariffs could worsen inflation and mass layoffs of government workers could increase unemployment.
The tech-heavy Nasdaq, which slumped 5% this week, was up less than 0.1% before the bell.
Nvidia slipped 1% before the bell following its 8% decline a day earlier, even as the chipmaker reported strong earnings and raised guidance. Sky-high expectations for the darling of artificial intelligence prompted investors to collect profits this week.
Between Thursday and premarket trading on Friday, Super Micro Computer more than gave back its gains from earlier in the week when it announced it had finally filed the required financial reports required to remain listed on the Nasdaq. Its shares were down 6.5% in premarket trading following Thursday’s 16% tumble.
Tesla shares were off less than 1% early Friday, continuing its string of losses that trimmed the value of the electric car maker’s shares by 17% this week alone.
