United States stock futures were mixed on Thursday night (Friday AEDT) after the Dow Jones Industrial Average and S&P 500 notched fresh record closes, supported by strong gains in cyclical sectors.
By 10:40 am AEDT (11:40 pm GMT), Dow futures were up 0.1%, S&P 500 futures were flat and Nasdaq 100 futures slipped 0.2%.
In extended trading, Broadcom slid nearly 5.2% despite exceeding Wall Street’s fourth-quarter expectations. The chipmaker said artificial intelligence chip sales should double in the current quarter to about US$8.2 billion.
Broadcom forecast first-quarter revenue of roughly $19.1 billion, signalling 28% year-on-year growth and easing concerns around AI demand.
Lululemon Athletica rose about 10.5% after announcing its chief executive will step down on 31 January following more than a year of underperformance.
Costco dipped 0.7% after hours. The retailer, which does not issue a full-year outlook, beat analysts’ quarterly expectations as sales increased 8.2% year on year.
Thursday’s U.S. session saw investors rotate into economically sensitive stocks while taking profits in growth and AI-exposed names following the Federal Reserve’s third interest rate cut of the year.
The Dow and S&P 500 both ended at record levels, while the Nasdaq Composite slipped 0.3% as technology heavyweights such as Nvidia declined.
For the week, the S&P 500 is up 0.5% and the Dow has gained nearly 1.6%. The Nasdaq has lagged with a rise of less than 0.1%.
