Tech Surges as Nike Stumbles on China Sales; Futures Indicate Mixed Open

U.S. stock futures indicated mixed openings with tech stocks recovering from recent selloffs, while Nike's shares plummeted due to weak China sales. Investors remained optimistic due to easing inflation pressures and potential Fed rate cuts. However, market volatility loomed due to 'triple witching'.

The U.S. stock market braced for a mixed start on Friday, as technology stocks rebounded from earlier declines, while sportswear giant Nike saw its shares slide by 11.5% due to disappointing sales figures from China. This downturn overshadowed otherwise positive tech sector prospects, fueled by favorable forecasts from tech companies like Micron Technology.

Tech giants such as Nvidia, Tesla, and Amazon experienced notable gains, reflecting investor optimism despite wider economic concerns. While the U.S. consumer price index showed a slower-than-expected rise in November, the Federal Reserve hinted at rate stability to combat persistent inflation and labor market fluctuations.

Friday's trading was anticipated to be volatile due to 'triple witching,' affecting stock index options contracts. Meanwhile, Oracle gained traction following a deal with ByteDance, while FedEx announced potential earnings drops. As the S&P 500 edges towards another annual gain, analysts remain cautious amid ongoing market adjustments.

(With inputs from agencies.)