Key facts
- Tesla shares rose 4.4% premarket on Roadster redesign news.
- AI data center operator CoreWeave slipped 4.1% on debt concerns.
- Varonis Systems agreed to be acquired by Proofpoint for $6.3 billion.
- S&P 500 and Nasdaq futures were on track for weekly losses.
- Dow futures were on track for a weekly advance.
Wall Street's main indexes opened largely muted on Friday, October 16, as worries about cracks in the AI trade pressured semiconductor stocks. Investors are concerned that data center operators may not become profitable in time to repay debts amid rising borrowing costs. Tesla shares climbed 4.4% in premarket trading after announcing a redesigned Roadster. Varonis Systems agreed to be acquired by Proofpoint for $6.3 billion in an all-cash deal. Federal Reserve Chair Kevin Warsh noted the US economy's resilience, partly due to AI investment, but warned of inflation pressures from the spending surge.