Stock market today: Dow, S&P 500, Nasdaq futures mixed as the AI trade rebounds
Stocks were poised to gain on Monday after the worst week for the tech-heavy Nasdaq since June.
US stock futures were mixed on Monday, led by a rebound in the technology (XLK) sector as investors looked ahead to earnings from Tesla (TSLA) and Meta (META) this week. Futures for Dow Jones Industrial Average (^YM=DF) fell 0.1%, while the S&P 500 (^ES=F) gained 0.5%. Contracts for the tech-heavy Nasdaq 100 (^NQ=F) edged up more than 1% after all three major averages ended the week lower on Friday. The Nasdaq is coming off its worst weekly performance since June, while the S&P 500 is rising after a nearly 2% drop last week. Semiconductor stocks edged higher, led by shares of Nvidia (NVDA) and AMD (AMD). Shares of Nvidia-backed CoreWeave (CRWV) were poised to open higher after coming under pressure last week amid AI financing worries. Tesla will report earnings on Wednesday after the EV maker unveiled a jaw-dropping redesign of the Roadster last week. Social Media giant Meta will also post results on the same day. Streaming giant Netflix (NFLX) will report after the close on Tuesday. Oil prices were steady with Brent crude (BZ=F) at $108 per barrel after Ukraine struck oil facilities in Russia and tankers came under attack in the Middle East. West Texas Intermediate crude (CL=F) dropped to $98.
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