"The futures trade lower again on Friday as we prepare to end a brutal week for stocks that saw some of the most significant spikes in volatility since earlier this year. The song remains the same as worries over AI and data center-fueled tech bubbles continue to reverberate across Wall Street. The fact that job cuts in October were the highest in over 20 years tossed some extra fuel on the selling fire."
"Like Tuesday, yields across the Treasury curve were lower, as investors sought the safety of government debt. The most significant buying was seen in the maturities ranging from the 2-year Treasury note to the benchmark 10-year paper. The yield on the 10-year note dropped seven basis points to close at 4.09%, while the 2-year was last seen at 3.57%, also seven basis points lower."
Equity futures declined as a brutal week produced significant volatility, driven by concerns about AI and data center-fueled tech bubbles and unusually high October job cuts. Major indices fell, with the NASDAQ down 1.90% to 23,054, the S&P 500 off 1.2% at 6,720, and the Dow down 0.84% at 46,912; some strong reporters like AMD still fell more than 7%. Investors sought safety in Treasuries, sending yields lower across the curve; the 10-year yield fell to 4.09% and the 2-year to 3.57%. Oil finished modestly higher while U.S. natural gas surged toward multi-month highs due to colder weather expectations, rising heating demand, and record LNG exports. Gold remained volatile, closing slightly lower at $3,981.
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