U.S. stock futures inched lower on Friday, putting the main indexes on course for sharp weekly declines, as concerns about the economy and sky-high valuations in the technology sector soured sentiment.

Market Snapshot

At 7:53 a.m. ET, Dow E-minis were down 165 points, or 0.35%, S&P 500 E-minis were down 33.5 points, or 0.5%, and Nasdaq 100 E-minis were down 174 points, or 0.69%.

Pre-Market Movers

Tesla - Tesla fell 1% in premarket trading after shareholders approved the largest corporate pay package in history for Musk, signaling confidence in his vision to morph the EV maker into an AI and robotics juggernaut.

Intel - Intel shares added 0.4% after Musk said it could be 'worth having discussions' with the company to make chips.

Nvidia - The White House has informed other federal agencies that it will not permit Nvidia to sell its latest scaled-down AI chips to China, The Information reported on Thursday, citing three people familiar with the matter. Nvidia shares dropped 1.6%.

Expedia - Online travel platform Expedia boosted its forecast for 2025 revenue growth, after beating Wall Street estimates for third-quarter profit, helped by strong demand from its business clients, sending its shares up 15.2%.

Affirm - Affirm shares advanced 6.7% after upwardly revising its guidance for fiscal-year 2026 gross merchandise volume after delivering a double-beat on Q1 earnings and revenue.

Opendoor - Opendoor shares tanked 24.5% after the online real estate company posted an adjusted loss before interest, taxes, depreciation, and amortization that was much bigger than analysts had anticipated. The red ink is poised to swell in the fourth quarter, with management guiding for an adjusted loss “in the high $40 millions to mid $50 millions,” which is a shade negative compared to Wall Street’s view for adjusted EBITDA of -$47.6 million.

Block - Block missed Wall Street estimates for third-quarter profit amid persistent economic uncertainty and intensifying competition in the payments sector, sparking a 15.5% slide in its shares.

Grindr - Grindr shares jumped 9% after reporting better-than-expected Q3 earnings and sales. Last month it received a take-private proposal from its majority investors that would value the company at $3.5 billion.

Akamai - Akamai shares gained 6.6% after the cybersecurity and cloud computing company reported third-quarter earnings that exceeded analyst expectations and provided an optimistic outlook for the remainder of the year.

Monster Beverage - Monster Beverage shares gained 4.3% after third-quarter results topped expectations, helped by strong global demand for its expanding portfolio of energy drinks.

Sandisk - Sandisk shares jumped 4.2% after the memory maker said first-quarter results and guidance were well above Wall Street's forecast.

Airbnb - Airbnb shares rose 3.7% after the company reported third-quarter results that beat analysts’ estimates for revenue and offered rosy guidance.

Peloton - Peloton shares gained 3.6% after it shared a stronger-than-anticipated holiday quarter forecast, as it aims to reposition itself as a holistic wellness brand and regain profitability after its first hardware revamp in years.

Five9 - Five9 reported record third-quarter revenue of $286 million, an 8% increase. The company announced a $150 million share repurchase program, showing confidence in growth. Five9 shares gained 3.5%.

Trade Desk reported third-quarter earnings that exceeded analyst expectations, with revenue climbing 18% YoY to $739 million, surpassing the consensus estimate of $719.55 million. The advertising technology company delivered adjusted earnings per share of $0.45, significantly beating the analyst estimate of $0.20. The shares rose 3.3%.

IREN - IREN stock fell 3.6% after the data center operator and bitcoin miner recorded stronger-than-expected Q1 FY26 revenue, with BTC mining and artificial intelligence both contributing.

DraftKings - DraftKings reported revenue and user numbers that missed analysts’ projections at the start of the NFL season and lowered its guidance for the year. The shares sank 6%.

Archer Aviation - Air taxi maker Archer Aviation reported better-than-expected Q3 loss. The pre-revenue company announced a registered direct offering of 81.25 million shares at a price of $8 per share. The company anticipates net proceeds of $171 million, which will be used to fund a pending acquisition and planned redevelopment of Hawthorne Airport. The shares sank 11.8%.

MP Materials - U.S. rare earths company MP Materials said its third-quarter loss widened as it stopped sales to Chinese customers as part of an agreement with the U.S. government, although the results surpassed Wall Street expectations. The shares fell 7%.

USA Rare Earth - USA Rare Earth reported a significant loss for the third quarter of 2025, missing earnings expectations by a wide margin. The shares dropped 9%.

Take-Two - Take-Two shares sank 6% after Rockstar Games announced a further delay in the release of Grand Theft Auto VI to November 2026.

Sunrun - Sunrun reported its third-quarter 2025 earnings, revealing a significant revenue beat but falling short on earnings per share (EPS). The shares sank 9%.

Sweetgreen - Sweetgreen cut its full-year outlook after third-quarter results unexpectedly worsened, with the salad chain citing stubbornly weak demand. The shares dropped 14%.

Microchip Technology - Microchip forecast third-quarter net sales below Wall Street estimates, indicating tepid demand for its chips as customers in the automotive and industrial markets continue to clear excess inventory. The shares fell 3.5%.

Denison Mines - Denison Mines reported third quarter EPS of $-0.1062, $0.09 worse than the analyst estimate of $-0.0148. Revenue for the quarter came in at $739.54K versus the consensus estimate of $786.87K. The shares fell 5.1%.

Constellation Energy - Constellation Energy reported third-quarter adjusted earnings of $3.04 per share, falling short of analyst expectations of $3.09, despite revenue of $6.57 billion exceeding the consensus estimate of $6.46 billion. The company’s shares dropped 5% premarket following the earnings miss.

Wendy's - Wendy's shares jumped 7% in pre-market trading on Friday following the release of its third-quarter 2025 earnings report. The fast-food chain outperformed analyst expectations on key financial metrics, despite facing challenges in sales growth.

Market News

Elon Musk's $1 Trillion Tesla Pay Plan Wins Shareholder Approval

Tesla CEO Elon Musk won shareholder approval on Thursday for the largest corporate pay package in history as investors endorsed his vision of morphing the EV maker into an AI and robotics juggernaut.

The proposal was approved with over 75% support, and Musk bounded to the stage of the company's annual meeting at its factory in Austin, Texas, accompanied by dancing robots.

Musk, already the world's richest person, could get as much as $1 trillion in stock over the next decade, although required payments would take the value down to $878 billion.

US to Block Nvidia's Sale of Scaled-Down AI Chips to China, The Information Reports

The White House has informed other federal agencies that it will not permit Nvidia to sell its latest scaled-down AI chips to China, The Information reported on Thursday, citing three people familiar with the matter.

Nvidia has provided samples of the chip to several of its Chinese customers, according to the report.

The chip, known as the B30A, can be utilized to train large language models when efficiently arranged in large clusters, a capability many Chinese companies require, the report added.