Shares of AT&T, Verizon and T-Mobile each fell about 5% before Friday’s open after a report said SpaceX is talking to cellular infrastructure firms about starting a nationwide mobile carrier. Tower owners moved the other way, with Crown Castle up 10.5% and American Tower up 7.3%, while SpaceX gained 2%. Broader futures pointed lower after Thursday’s near 3% drop in the Nasdaq, driven by Meta’s 8% slide after it reported its first cash outflow in over a decade. Dow futures fell 0.84% and S&P 500 futures lost 0.45%. Traders now expect the Federal Reserve to hold rates steady next week, after some officials played down the need for a hike. Microsoft, Alphabet and Amazon report earnings next week.
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