Dow Jones Industrial Average futures slipped 0.1%, while S&P 500 futures were broadly flat. Nasdaq-100 futures gained 0.3%.
Wall Street closed higher in the previous session, with technology stocks leading a broad rebound after the major averages fell following the Fed’s rate decision on Wednesday.
The Dow Jones Industrial Average rose 316 points, or 0.6%, on Thursday. The S&P 500 gained 1.1%, while the Nasdaq Composite advanced 1.7%.
The Fed raised interest rates by 25 basis points on Wednesday, its first rate increase in three years. The move was widely expected, but the central bank indicated that at least one more rate hike could come this year.
Meanwhile, Warren Buffett, 96, is stepping down as chairman of Berkshire Hathaway’s board with immediate effect, the company said Friday. Buffett will remain on the board, while his son Howard G. Buffett will succeed him as chairman.
Oil prices, AI concerns in focus
Oil prices, which have eased back towards the $100-a-barrel level, have provided some relief to markets as the war in Iran approaches its seventh month. However, disruptions in the Strait of Hormuz continue to fuel concerns over energy supplies and inflation, complicating the outlook for global central banks.
Chip stocks have also recovered from a sell-off earlier in the week. The rebound followed calls from Anthropic and OpenAI for a slowdown in AI development.The PHLX Semiconductor Index was only slightly lower for the week heading into Friday’s session.
Global markets
Asian markets ended broadly higher on Friday. Japan’s Nikkei 225 rose 1.38%, while South Korea’s Kospi gained 2.66%. China’s CSI 300 advanced 1.06%, while Australia’s S&P/ASX 200 was little changed.
European stocks were broadly lower, with the Stoxx 600 down 0.4%, retreating after a two-day winning streak.
Also Read: Warren Buffett gives up Berkshire chair after six decades, son Howard takes the reins
