Nasdaq futures at record high, tech demand
Nasdaq index futures have hit a record high as investors sought economically stable sectors after a small delay in voting on President Joe Biden's $US1.75 trillion spending bill, while rising COVID-19 cases in Europe also dented sentiment.
S&P and Dow futures fell tracking losses in banks, airlines, and other economically sensitive sectors.
Uncertainty over rising inflation and the Federal Reserve's tightening also kept demand for value stocks low.
The US House of Representatives early on Friday delayed an anticipated vote on passage of Biden's social programs and climate change investment bill, and will instead reconvene at 8am EST to complete the legislation.
In Europe, rising COVID-19 cases saw Austria outline plans for a full lockdown, while Germany could follow suit amid a new wave of infections.
Shares of Alphabet, Amazon and Microsoft - stocks which have largely persevered through economic shocks since 2020, rose between 0.3 per cent and 0.5 per cent in premarket trade.
Chipmaker Nvidia also boosted Nasdaq futures, rising 1.7 per cent in heavy trade after posting strong quarterly results late on Wednesday.
On the other hand, carriers Delta Air Lines, United Airlines and American Airlines, and cruiseliners Norwegian Cruise Line and Carnival fell between 1.4 per cent and 2.3 per cent.
Oil firms Exxon Mobil and Chevron slipped 2.1 per cent and 1.8 per cent as crude prices sank, while big banks including JPMorgan and Bank of America were down between 0.9 per cent and 1.1 per cent, tracking a fall in US Treasury yields.
At 6.26 am ET, Dow e-minis were down 145 points, or 0.4 per cent. S&P 500 e-minis were down 5.75 points, or 0.12 per cent and Nasdaq 100 e-minis were up 68 points, or 0.41 per cent.
The S&P 500 and the Nasdaq eked out record highs on Thursday following strong technology and retail earnings.
Both indexes were headed for mild weekly gains, while the Dow Jones was set for a second straight week of losses.
Among major premarket movers, Intuit jumped 10.3 per cent as brokerages raised their price targets on the income tax software company after it beat quarterly estimates and raised forecast.
The stock was the top S&P 500 gainer in premarket trade.
Applied Materials dropped 5.7 per cent after the chipmaker forecast first-quarter sales and profit below market estimates on supply chain woes.
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