The stock market was trying to mount a recovery Friday after a brutal AI selloff in the previous session. But it wasn't having a great deal of success.
Stock futures pointed lower as oil prices climbed above $114 a barrel, but some of the hard-hit tech names were enjoying a modest rebound.
These stocks are on the move ahead of the open:
Moderna was down 4% after a 17.6% slump Thursday following a data leak for the cancer vaccine candidate the drugmaker is developing with Merck.
Telecom giants AT&T, Verizon, and T-Mobile were all down more than 3% following reports that SpaceX is in talks to secure 80,000 cell towers as it looks to challenge the wireless carriers. Cell tower owners Crown Castle and American Tower jumped 8% and 4% respectively. SpaceX rose 2.4%
Deckers Outdoor was the worst performer in the S&P 500, falling 8% after the Ugg maker cut its revenue outlook when it reported earnings late Thursday.
Hard-hit tech names were rising, but not enough to make a dent in the yesterday's selling. CoreWeave rose less than 2% after a 10% slump in the previous session. Micron was also up less than 2% following a 6% fall and Sandisk climbed 2.9% after its 8.5% decline.
Meta Platforms was pointing lower again after a 7% post-earnings drop Thursday.
SK Hynix was outperforming, though, climbing around 5% after the company decided to scrap the planned U.S. IPO of its Solidigm memory-chip unit.
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