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Stock Futures Mixed as Tesla Rises 3%

Stock futures are mixed as Wall Street attempts to stabilize following a volatile week marked by hotter-than-expected inflation data and renewed concerns about the sustainability of AI-related investments. Technology stocks remain under pressure as investors question the debt financing and profitability underpinning the AI infrastructure boom.Despite the inflation surprise, Treasury yields are relatively steady after retreating Thursday, as comments from Federal Reserve Chair Kevin Warsh offered no clear signal of an imminent rate hike. Markets continue to weigh the risk that persistent inflation will prompt tighter policy against the possibility that borrowing costs are already high enough to restrain economic activity.Oil prices are easing but remain elevated, with Brent crude holding above $105 a barrel and West Texas Intermediate near $97.In pre-market trading, S&P 500 futures rose 0.12%, Nasdaq futures fell 0.21% and Dow futures were up 0.07%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Teslaup 3% after unveiling the redesigned second-generation Tesla RoadsterUP AFTER EARNINGS -Regions Financialup 1%Alcoaup 1%DOWN AFTER EARNINGS -Travelersdown 3%Citizens Financialdown 2%Truist Financialdown 1%M&T Bankdown 1%LOWER -Fox Factorydown 22% after reporting preliminary Q3 results below expectations, cutting FY26 guidance and announcing that Mike Dennison stepped down from his role as CEONetflixdown 3% after chief content officer Bela Bajaria left the company

CPI Exceeds Expectations, Market Sentiment Holds Steady

Following yesterday's hotter-than-expected CPI print, wholesale PPI inflation also came in well above expectations, and yet investor sentiment is holding up well as market fears shift away from concerns over a "rate shock" due to tighter monetary policy and toward a "growth scare" as the AI buildout pillar of the economy is looking more wobbly.    After opening lower, the S&P 500 and Nasdaq Composite both eked out gains by the close, while the less-Tech-concentrated Dow jumped over 1%.In Technology, traders continued to sell semiconductors, communication equipment, and computer hardware in droves, but the proceeds were rotated into "anti-AI" areas of the market such as Enterprise Software and IT Services.  The worst performing sector in the S&P 500 this year - Consumer Cyclicals - was one of the best sectors today as traders bid up heavily-sold names like Lululemonand Nike, both of which were up 5%.In fixed income, rotation from corporates amid Coreweavedebt scare into the safety of the Treasuries  - where the yield on the 10-year note dropped another 10 basis points despite the hot inflation prints - also benefited the heavily sold rate-sensitive market areas such as REITs and Homebuilders.   Names like Lennar, which had just marked a four-year low overnight, jumped 6% on Thursday, while its peers DR Hortonand KB Homewere bid up by over 4%.Sentiment remains fragile in the opening hour of the evening session. S&P e-minis are down 0.1% and the Nasdaq 100 contract is off by 0.3%.  Futures traders will look to the AI-overindexed Korea's Kospi for direction while also monitoring the testimony of Fed Chair Kevin Warsh at the IMF summit in Bangkok this evening.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Independent Bankup 2.5%Cohen & Steersup 1.9%Alcoaup 1.1%Wise Groupup 1.0%ALSO HIGHER -Semtechup 2.1% after positive Q3 pre-announcementDOWN AFTER EARNINGS -J.B. Hunt Transport Servicesdown 2.3%First Financial Banksharesdown 1.4%Interactive Brokersdown 0.6%ALSO LOWER -MDxHealth SAdown 7.4% after Q3 pre-announcement