Europe Asia News

S&P 500 futures were flat, while Nasdaq 100 futures slipped 0.1%. Futures tied to the Dow Jones Industrial Average fell 86 points, or 0.2%.

In extended trading, Nike shares dropped 10% after revenue declined in the Chinese market during the second quarter of the fiscal year. The S&P 500 and Dow ended a four-day losing streak in the previous session, while the Nasdaq Composite climbed 1.4% as many tech stocks recovered losses.

Stocks rose Thursday on below-expected November inflation data and strong earnings from technology leaders. CPI data showing a 2.7% annual increase boosted hopes that the Federal Reserve could cut interest rates in 2026.

Shares of major technology companies and chipmakers also rose after Micron Technology said demand would significantly outstrip supply in the foreseeable future, easing recent investor concerns over the AI trade.

All of the so-called Magnificent Seven stocks — Apple, Microsoft, Amazon, Alphabet, Meta, Nvidia and Tesla — closed Thursday in positive territory.

For the week, the S&P 500 and the 30-stock Dow fell about 0.8% and 1%, respectively, while the Nasdaq has declined 0.8% so far this week. Volatility may pick up Friday as four types of options expire on the same day.

This event is known as “quadruple witching.” According to Goldman Sachs, more than $7.1 trillion in notional options positions will expire Friday, marking the largest expiration on record.