Wall Street futures pointed moderately lower pre-bell Friday as traders again toggled risk off on rich AI and semiconductor-sector valuations.
Cautioning markets were reports that prominent AI-modeler OpenAI may delay its IPO until next year, to better secure a $1 trillion valuation. In addition, Apple (AAPL) on Thursday announced it will boost prices on iPads and MacBooks to offset higher memory- and storage-chip costs.
In the futures, the S&P 500 fell 0.5%, the Nasdaq declined 1.2% and the Dow Jones was off 0.1%.
The VanEck Semiconductor ETF (SMH) traded down 2.8% pre-bell.
Asian exchanges traded mostly lower overnight on tech-sector reverses, including 12.5% decline in shares of Japan's tech-financier SoftBank.
European bourses tracked south midday on the continent.
On the economic calendar is the international trade in goods report, and the retail and wholesale inventories bulletins, all for May, at 8:30 am ET.
The University of Michigan's consumer sentiment report for June logs at 10 am, followed by the weekly Baker Hughes oil-and-gas rig count at 1 pm.
Minneapolis Fed President Neel Kashkari is slated to speak on Friday.
In pre-market action, bitcoin traded at $59,723, West Texas Intermediate crude oil traded down 3.7% at $69.27, and 10-year US Treasuries offered 4.38%. Spot gold commanded $4,050 an ounce.