Despite being mostly in the black, the S&P 500 fell 0.5% on Thursday, according to Bloomberg. Shares of tech giants fell sharply in late New York trading.

Birinyi Associates Inc. said not everyone agrees with the rotation away from technology stocks and into other sectors.

In Asia, data will be released including Tokyo's July inflation, Thailand's June customer trade and Singapore's industrial production.

Goldman Sachs economists said the timing of the MLF loan extension was unusual and showed dovish intentions.

He noted that the bull run will continue until 2024 or even 2025, as long as the economy avoids a recession.

In commodities, West Texas Intermediate crude rose for a second day, while gold fell more than 1%.