Futures turn lower, OpenAI's reported board plans - what's moving markets

investing.com:

Investing.com -- U.S. stock futures hover below the flatline heading into the final trading day of the week, as investors digested fresh inflation data and eyed the path ahead for Federal Reserve interest rates. OpenAI is reportedly planning to name new board members, as the artificial intelligence group behind ChatGPT faces increased regulatory scrutiny. Elsewhere, China's manufacturing activity slows for the fifth straight month in February.

1. Futures turn lower as Goldman Sachs removes Apple (NASDAQ:AAPL) from conviction list

U.S. stock futures turned lower on Friday, after Wall Street notched gains in the prior session that were fueled by inflation data which bolstered hopes for a mid-year interest rate cut from the Federal Reserve.

By 06:08 ET (11:08 GMT), the S&P 500 futures contract had slipped by 9 points or 0.2%, Nasdaq 100 futures had inched down by 17 points or 0.1%, and Dow futures had shed 76 points or 0.2%.

Apple was in focus in premarket dealmaking after analysts at Goldman Sachs removed the iPhone manufacturer from its selection of top buy-rated stocks. Shares in Apple were lower ahead of the opening bell.

The main indices all finished in the green on Thursday, with the benchmark S&P 500 and tech-heavy Nasdaq Composite closing at fresh record highs. The blue-chip Dow Jones Industrial Average, meanwhile, edged up by 0.1%.

The personal consumption expenditures (PCE) price index — an inflation gauge closely-monitored by the Fed — eased as expected in January. The reading spurred hopes that inflationary pressures will abate in the coming months, giving the Fed enough impetus to reduce rates in June.

2. OpenAI to name new board members — WaPo

OpenAI is planning to name several new board members in March,