Dow futures are up 194 points, about 0.38 percent, near 50,997. But S&P 500 futures are down roughly 0.52 percent at 7,532, and Nasdaq futures are off about 1.31 percent near 30,232.
Money is rotating out of technology and into the more defensive corners of the market... the first real crack we have seen after a long stretch of tech doing all the heavy lifting.
Wednesday already snapped a nine-session winning run. This morning is following through on it.
Two forces are pulling at once. The Iran conflict escalated again, with renewed fighting overnight and the House passing a resolution to rein in further U.S. military action... enough geopolitical noise to push investors toward safety. At the same time, the AI trade is wobbling.
Alphabet's plan to raise eighty billion dollars to fund its AI buildout, announced earlier this week, has investors asking how much these companies must keep spending.
SpaceX recently signaled it's planning the biggest IPO on record.
That's right... the biggest IPO in market history is almost here, and it is every bit the milestone it sounds like.
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