US stock futures held Friday morning, attempting to stabilize after a broad market selloff, as investors prepared for a highly-anticipated inflation update due before the opening bell.

Futures linked to the S&P 500 (ES=F) edged up about 0.2%. Nasdaq 100 futures (NQ=F) climbed roughly 0.3%, while contracts tied to the Dow Jones Industrial Average (YM=F) 0.1%.

Thursday’s regular session saw heavy selling pressure across Wall Street, with AI volatility spilling into sectors such as real estate, transportation, and software. The S&P 500 (^GSPC) fell nearly 1.6%, and the Nasdaq Composite (^IXIC) dropped about 2%. The Dow Jones Industrial Average (^DJI) declined nearly 670 points, or 1.3%.

All seven members of the so-called “Magnificent Seven” tech cohort finished in negative territory. Cisco Systems (CSCO) slid 12% after issuing disappointing forward guidance, adding to the broader market’s losses. Apple (AAPL) sank 5%, marking its steepest one-day drop since April 2025.

In extended trading, chip equipment maker Applied Materials (AMAT) surged 11% after delivering better-than-expected quarterly results and issuing an upbeat outlook. Rivian (RIVN) shares leaped 14% after releasing a positively surprising earnings report with revenue of $1.286 billion versus the predicted $1.26 billion.

Investors are looking to the end of the week with corporate and governmental data releases. Focus is pointed toward January’s consumer price index report, a key inflation measure that could shape expectations for an already complicated Federal Reserve policy.

Earnings season continues with eyes on Moderna (MRNA) reporting Friday after a 10% drop in share value this week after the FDA rejected an investigational flu vaccine.

Bloomberg reports:

Gold (GC=F) clawed back some losses after a sudden selloff in the previous session, with dip-buyers snapping up the metal ahead of key US inflation data.

Bullion rose as much as 1.4% on Friday, having lost 3.2% in the previous session – the biggest one-day fall in a week. That decline accompanied jitters on Wall Street, where prices buckled across asset classes on concern over the impact of AI on companies’ earnings. The pullback in gold may have been amplified by margin calls and algorithmic trading.

The selloff in US stocks spilled over into precious metals, as some investors with broad holdings were forced to sell commodities to cover margin calls, said Liu Shiyao, an analyst with Zijin Tianfeng Futures Co. “In many cases, investors hold these assets at the same time: when one side is sold off, the other faces redemption pressure,” she said. “However, the impact won’t be too significant. Gold is still in a consolidation phase.”

The pullback was likely intensified by selling from commodity trading advisers using computer models to bet on price moves, said Michael Ball, a macro strategist at Bloomberg.

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