After a rollercoaster week that left investors rattled by tech earnings and a sharp cryptocurrency tumble, U.S. stock futures surged Friday, signaling a potential rebound as the market heads toward the weekend.
Futures Surge Amid Mixed Signals
Dow Jones futures: +233 points (+0.5%)
S&P 500 futures: +0.6%
Nasdaq 100 futures: +0.7%
The gains came despite Amazon shares plunging 7% after the ecommerce giant slightly missed earnings expectations and announced a massive $200 billion capital expenditure plan for 2026.
Meanwhile, Reddit rallied 9% after reporting an earnings beat, issuing strong guidance, and unveiling a stock buyback program. Other tech heavyweights also rebounded: Nvidia gained 3% and Microsoft nearly 1%, recovering some of their double-digit drops earlier in the week.
Crypto Rollercoaster
Cryptocurrency markets mirrored the volatility. Bitcoin plunged 16% overnight, briefly dipping below $61,000 before clawing back 4% to rise above $66,000. The digital asset sell-off added to investor anxiety earlier in the week.
Tech Sector Still Under Pressure
Despite Friday’s bounce, tech stocks endured a bruising week:
Nasdaq Composite: down ~1.6% Thursday
iShares Expanded Tech-Software Sector ETF (IGV): -5% Thursday, -11% week-to-date — its largest weekly drop since 2008
Much of the selling stemmed from mounting fears over AI disruption in software and tech, with investors reassessing valuations and growth prospects.
Barclays strategist Venu Krishna noted:
“The reassessment of AI sentiment does not materially alter our constructive view on the fundamentals of the Big Tech companies at the center of the AI capex cycle. Their valuations remain compelling, and earnings profiles resilient, even as the market temporarily steps back from AI-driven narratives.”
Broader Market Picture
The sell-off extended beyond tech:
Dow and S&P 500 fell 1.2% Thursday
The S&P 500 now sits in the red for 2026, with the Nasdaq down roughly 4% on the week
Even commodities felt the pressure. Silver futures continued their decline, while spot silver posted modest gains, reflecting ongoing volatility in alternative asset markets.
Looking Ahead
Friday’s rebound offers a glimmer of hope, but investors remain cautious. The week’s action underscores how tech turbulence, AI uncertainty, and crypto swings are keeping Wall Street on edge — with markets navigating a delicate balance between recovery and risk-off sentiment.