US stocks were mixed on Friday, October 16, as investors weighed concerns around artificial intelligence trade financing and a fresh batch of corporate earnings due next week. The S&P 500 and Nasdaq were on track to end the week lower following a sell-off in semiconductor stocks, while the Dow was headed for a weekly gain.
Foreign investors returned to buying Indian equities on Friday, snapping a day of heavy selling, while domestic institutional investors turned net sellers even as benchmark indices ended higher. Oil prices headed for a second consecutive weekly gain on Friday October 16, as fresh supply threats in West Asia outweighed the prospect of another release of emergency stockpiles.
US Data Watch: Investors will track key US economic data releases, including September import prices, industrial production and capacity utilisation. Import prices are expected to rise 0.8%, compared with 0.7% previously, while industrial production is forecast to increase 0.4% month-on-month after remaining unchanged in the previous reading.
Capacity utilisation is expected at 76.5%, slightly below the earlier 76.3% reading. The September monthly Treasury balance is also due, with the previous reading showing a deficit of $167 billion. Tesla shares rose 4% in pre-market trade on Friday to $375 apiece after the electric vehicle maker unveiled its redesigned Roadster featuring compressed-air thrusters developed with SpaceX.
SpaceX shares also climbed 1%.