Futures Drop as Tech Stocks Slide, Oil Prices Climb Past $101 a Barrel

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Futures Slip as Big Tech Falters, Oil Extends Relentless Advance
The S&P 500 fell for a second day on Friday with technology megacaps treading water after Thursday’s selloff. Oil prices rose, with the US midterm elections less than two weeks away. Chips stocks offered some relief, as the Philadelphia Semiconductor Index, or the SOX, rallied.
The S&P 500 Index was down 0.2% of 10:55 a.m. in New York, while Bloomberg’s Magnificent Seven guage was unchanged. The Nasdaq 100 Index, however, rose 0.6%, boosted by gains for semiconductor companies. West Texas Intermediate crude oil added 2.9% to top $102 a barrel as conflict in Saudi Arabia intensified. Yields on 10-year Treasuries advanced to 4.99%. Consumer confidence fell to a five-month low as inflation expectations rose.

document fetched 2026-10-24 02:55 · canonical https://bloomberg.com/news/articles/2026-10-23/us-futures-slip-as-big-tech-wavers-oil-extends-gains