U.S. stock futures edged lower on Friday as Wall Street braced for more weakness after a broad sell-off, with investors turning their attention to the latest consumer inflation data for clues on where interest rates head next.

Futures tied to the S&P 500 and the Dow Jones Industrial Average both dipped by around four-tenths of a percent, while Nasdaq 100 futures also pointed lower, signaling that pressure on tech could persist following Thursday’s pullback.

The mood remains fragile after a day of heavy selling that spread beyond traditional AI winners. Worries about AI-driven disruption spilled into “old economy” corners of the market such as real estate, logistics, and transportation—areas that had been viewed as steadier alternatives when tech leadership looked crowded.

Big tech took the brunt of the hit, with all seven of the so-called “Magnificent Seven” megacaps finishing in the red. Cisco’s sharp slide on cautious guidance weighed on sentiment, while Apple logged one of its roughest sessions in months as investors reassessed how far the recent enthusiasm can stretch.

Even so, the earnings picture stayed mixed. Applied Materials surged after delivering strong results and an upbeat outlook that underscored continued demand tied to AI buildouts. Elsewhere, Pinterest sank sharply after falling short on revenue and issuing a weaker view, fueling fresh debate about how AI could reshape discovery and ad-driven platforms.

The next major test arrives with Friday’s January consumer price index report. The CPI data—watched closely by the Federal Reserve—could steer expectations around the timing and pace of any policy shift. Forecasts call for annual inflation to ease to about 2.5%, and traders are alert to any surprise that could quickly reprice rate outlooks.

Investors will also be scanning the details for signs that price pressures are cooling more decisively at the start of 2026, or whether inflation remains stubborn enough to keep policymakers cautious for longer. A hotter print could revive rate worries, while a softer number may offer some breathing room after the week’s volatility.

On the company front, Rivian rallied after posting a fourth-quarter earnings beat and reiterating that its R2 midsize model remains on track for deliveries before the summer. Meanwhile, attention turns to Moderna’s results after the stock slid earlier this week following an FDA setback tied to a flu vaccine decision.

With markets still digesting Thursday’s AI-driven shakeout and weekly losses building, the inflation report is likely to set the tone for risk appetite into the close. For more context on the premarket moves and the CPI setup, see the full coverage at Yahoo Finance .