US stock futures were mixed on Friday as Wall Street tempered its rate-cut hopes and awaited July's retail sales report. Traders were also awaiting Friday's meeting between President Trump and Vladimir Putin, looking for clues on how the outcome could steer markets.

Futures attached to the Dow Jones Industrial Average (YM=F) rose around 0.6%, with the index's first record since December in sight again. Futures attached to the benchmark S&P 500 (ES=F) rose 0.1%, and futures attached to the tech-heavy Nasdaq 100 (NQ=F) fell below the flatline.

Major Dow component UnitedHealth (UNH) stock soared on Friday before the bell after a regulatory filing showed Warren Buffett's Berkshire Hathaway (BRK-B, BRK-A) bought 5 million shares in the company.

Intel (INTC) shares also jumped premarket Friday on news that the US government is considering taking a stake in the company. President Trump met with Intel's CEO on Monday after calling on him to resign the previous week.

And Applied Materials (AMAT) stock sank 14% before the bell on Friday after the chip equipment maker issued weak fourth-quarter forecasts on sluggish China demand, fueling concerns over tariff-related risks.

Stocks wobbled on Thursday, ending a two-day rally sparked by investor confidence that an interest rate cut in September was nearly certain. Doubts about a significant cut at the Fed's next policy meeting crept in after July's Producer Price Index (PPI) came in hotter than expected.

On Friday, Wall Street will be watching the release of retail sales data. The results will offer clues as to whether Trump's tariffs are impacting consumer spending habits.

Shares in Applied Materials (AMAT) sank 14% before the bell on Friday after the chip equipment maker issued weak fourth-quarter forecasts on sluggish China demand, fueling concerns over tariff-related risks.

Reuters reports:

The Santa-Clara, California-based company's forecast comes after similar tariff warnings from ASML Holding, the world's biggest supplier of chip-making equipment, last month.

CEO Gary Dickerson flagged lower visibility and increased uncertainty in the near-term, citing \\"wide-ranging implications for the semiconductor industry\\" from the dynamic policy environment, during a post-earnings investor call.

China, Applied Materials' top revenue source in the July quarter, accounting for 35% of sales, has emerged as a growing risk as U.S. export restrictions weigh on new orders for chipmaking tool suppliers.

\\"China volatility is significantly clouding visibility into core earnings potential both geopolitically and cyclically,\\" Deutsche Bank strategists said in a note.

Read more here.

UnitedHealth Group stock rose 12% before the bell on Friday after Warren Buffett's Berkshire Hathaway (BRK-B, BRK-A) acquired 5 million shares in the company.

A regulatory filing showed the purchase on Thursday.

Reuters reports:

Billionaire investor Buffett owned about 1.18 million shares in UnitedHealth between 2006 and 2009, before selling his entire stake in 2010 amid a broader retreat from health insurers.

The investment comes as UnitedHealth faces soaring medical costs, federal investigations, the fallout of the killing of a top executive and a cyberattack last year.

Read more here.