India, June 5 -- The major U.S. index futures are currently pointing to a lower open on Friday, with stocks likely to move to the downside amid continued weakness in the tech sector.
Extended weakness among chip stocks may weigh on Wall Street, as reflected by the 1.3 percent slump by the tech-heavy Nasdaq 100 futures.
Yesterday's negative reaction to Broadcom's (AVGO) guidance may continue to generate selling pressure amid concerns about valuations.
"The market is no longer asking whether AI demand is strong, that has largely been established," said Daniela Hathorn, Senior Market Analyst at Capital.com. "Instead, investors are beginning to question how much of that growth is already reflected in valuations."
She added, "In that sense, ...