Stock market today: Live updates

Stock futures were mixed Friday, following a session in which Wall Street was unable to sustain a rally thanks to uncertainty about the Federal Reserve’s upcoming interest rate decision.

Futures tied to the Dow Jones Industrial Average rose 154 points, or 0.3%. S&P 500 futures were flat, while Nasdaq-100 futures slipped 0.2%.

The Dow at one point on Thursday rose more than 700 points as investors cheered a blockbuster Nvidia fiscal third-quarter earnings report. The benchmark, along with the S&P 500 and Nasdaq Composite, ended the day sharply lower after new U.S. jobs data raised doubts about whether the Fed will cut rates once more before year-end.

Artificial intelligence stocks led the declines, with Nvidia ending the day lower by 3% after rising as much as 5%. Thursday’s reversal put the stock down more than 10% for the month.

“It seems the corrective action in the stock market that has been underway since late October has not yet been fully exhausted,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott. “Conditions are getting somewhat oversold, setting up for at least a bounce, but more economic news due to be released this week could be a determining factor as to how big a bounce or do we need a deeper pullback to lure buyers since the data could influence Fed rate cut bets.”

Major U.S. indexes are tracking for a losing week after investors have raked in profits from several high-flying stocks. The S&P 500 is down 2.9% week to date, while the Dow has declined almost 3%. The Nasdaq has shed 3.6%.

Some investors believe that Thursday’s market dip is not a sign of a deeper decline, but rather a normal pullback following strong gains earlier in the year.

“At the start of the month things were getting a tad frothy, but now with the past three weeks of frustration for investors, various signs of sentiment are flashing extreme levels of fear and worry. From a contrarian point of view, this was necessary to shake out any weak hands,” said Ryan Detrick, chief market strategist at Carson Group.