US stock futures mixed as Dow, S&P hit records amid sector rotation

U.S. stock futures showed a mixed performance on Thursday evening after Wall Street experienced a significant rotation into value and cyclical stocks, pushing the Dow Jones Industrial Average and the S&P 500 to new record closes. Dow futures advanced approximately 0.2%, indicating potential further gains for the blue-chip index. S&P 500 futures remained relatively unchanged, while Nasdaq 100 futures declined about 0.2%. Investors are anticipating a positive weekly finish for all three major indexes as they assess the Federal Reserve's future monetary policy moves following its third interest rate cut of the year announced Wednesday. Thursday's trading session witnessed a notable shift away from high-growth artificial intelligence beneficiaries. This movement contributed to the Dow's substantial 650-point rally, propelled by strong performances from Visa, Nike, and UnitedHealth Group. Conversely, Oracle's stock price dropped after its earnings report raised renewed concerns about AI, dragging down other major tech stocks including Google and Nvidia. After the market closed, Broadcom shares fell nearly 5% despite reporting better-than-expected fiscal fourth-quarter results and providing an optimistic forecast, including an expectation that AI-related chip revenue would double. In other developments, Lululemon's stock jumped about 10% following the announcement that CEO Calvin McDonald will depart at the end of January after a period of disappointing performance. With earnings season largely concluded, attention turns to upcoming reports from Nike and Micron Technology next week.