Havens in, tech stocks out may be the theme for Friday.
Investors seem eager to insure themselves against geopolitical tensions that have flared up in the Middle East and Hong Kong this week, with gold vaulting on Friday. Meanwhile, U.S. technology stocks might not win any popularity contests as a red flag cropped up over how the trade war is biting that industry.
Tech conglomerate Broadcom is sliding in premarket activity after slashing its revenue guidance, citing a hit from an export ban on big Chinese customer Huawei, so it could be the Nasdaq COMP, -0.51% that leads the market south as traders head into the weekend.
Trade tensions are also one reason DoubleLine Capital Chief Executive Officer Jeffrey Gundlach now sees a bigger chance of a recession hitting U.S. shores in the not-too-distant future.