U.S. stock index futures fell in holiday-thinned trade on Monday evening amid continued caution over technology stocks and the impact of artificial intelligence.
Investors were also cautious before a host of economic readings and Federal Reserve commentary due this week.
Trading volumes were largely quashed by a market holiday on Monday, while investors also parsed a mixed reading on consumer inflation from last week.
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Nasdaq 100 Futures fell 0.8% to 24,604.0 points by 22:53 ET (03:53 GMT), leading losses among their peers. S&P 500 Futures fell 0.5% to 6,820.0 points, while Dow Jones Futures fell 0.3% to 49,417.0 points.
Econ. data, Fed minutes on tap this week Focus this week is squarely on a host of key economic indicators, as well as the minutes of the Fed’s January meeting, for more cues on the path of interest rates.
The Fed minutes are due on Wednesday, coming after the central bank left interest rates unchanged in its late-January meeting. Beyond the minutes, several Fed members are also set to speak in the coming days.
Also due on Wednesday is industrial production and durable goods data, while trade data for December is due on Thursday.
PCE price index data– the Fed’s preferred inflation gauge– is due on Friday, and is likely to provide more definitive cues on interest rates.
Wall St ends flat after mixed inflation; tech rout weighs Wall Street indexes ended mostly flat on Friday as optimism over mildly cooler inflation data for January was offset by a continued decline in tech shares, as investors fretted over disruptions from AI.
Software stocks had initially borne the brunt of selling, which eventually spilled over into other sectors.
Consumer price index inflation data for January showed mild cooling in the headline figure, while core CPI also eased in line with expectations, albeit slightly.
But the print did not offer any conclusive cues on inflation, with markets largely retaining their bets that interest rates will remain unchanged in the near-term.
The S&P 500 fell 1.4% last week, while the NASDAQ Composite fell 2.1%. The Dow Jones Industrial Average shed 1.2%.
