US equity futures were lower pre-bell Friday as concerns over artificial intelligence spending weighed on chip stocks and the wider technology sector, while the conflict in the Middle East showed no signs of de-escalating.

Dow Jones Industrial Average futures were 0.5% lower, S&P 500 futures were down 0.8%, and Nasdaq futures were 1.6% lower.

Global tech stocks continued their drop from the previous session, including Nvidia (NVDA), which was down 2.5% in premarket activity.

US Central Command said in a post on X that it completed the sixth consecutive wave of attacks against Iran, degrading the nation's military capabilities and holding it "accountable" for recent attacks on commercial shipping in the Strait of Hormuz.

Iran said it had targeted US military forces in Syria and Bahrain in a broadening of the scope of its attacks in the Middle East.

Traders assessed the latest round of earnings, with Netflix (NFLX) reporting an increase in fiscal Q2 earnings and revenue on late Thursday.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.9% at $85.83 per barrel and US West Texas Intermediate crude 2.2% lower at $80.68 per barrel.

Housing starts for June, slated for 8:30 am ET, are expected at 1.31 million units annually, according to estimates compiled by Bloomberg. The June import price index is expected to show a 0.7% month-over-month decrease after a 1.9% gain previously. The export price index is also projected to drop by 0.7%, compared with a gain of 1.3% previously.

The June industrial production report, due at 9:15 am ET, is forecast to show a 0.2% gain following a 0.1% increase in the prior month. The University of Michigan consumer sentiment index for July, slated for 10 am ET, is expected at 51.0, up from 49.5 previously.