US stock futures mixed at Friday close; Dow leads decline

The sharp divergence between the Dow's decline and the Nasdaq's near-flat performance points to rotation rather than broad risk-off sentiment, with small caps outperforming. This suggests traders are repositioning away from large-cap industrials into growth and smaller names, possibly reflecting expectations about rate sensitivity or sector-specific earnings. The key question is whether this rotation sustains into next week or flips if macro data shifts the narrative.