US stock futures declined Monday evening, following a mixed trading day on Wall Street. The exuberance surrounding artificial intelligence (AI) drove gains in the S&P 500 and Nasdaq Composite, albeit with some divergence in the performance of the major indexes.
Futures related to the Dow Jones Industrial Average (YM=F) fell approximately 0.1%. S&P 500 futures (ES=F) slipped by 0.2%, while Nasdaq 100 futures (NQ=F) experienced a more significant drop of 0.4%.
Leading the day’s positive momentum, AI-centric technology stocks made notable gains. Noteworthy was Amazon, which achieved a record closing price following the announcement of a strategic partnership with OpenAI, contributing to a nearly 0.5% rise in the Nasdaq (^IXIC). The S&P 500 (^GSPC) saw a modest gain of about 0.2%, while the Dow (^DJI) experienced a decline of around 0.5%.
Investor sentiment remained buoyed by robust third-quarter earnings and increased AI investments from major cloud computing firms. The so-called “Magnificent Seven” stocks continued to exert considerable influence on market trends, although their performances have become more inconsistent relative to the indexes as more companies report disappointing results.
Conversely, shares of Palantir Technologies (PLTR) faced a setback, dropping over 4% in after-hours trading. This decline occurred despite the AI-driven analytics firm surpassing third-quarter earnings expectations. Analysts have raised concerns regarding the company’s valuation, suggesting the stock price may be inflated.
Looking ahead, investors are bracing for a busy week as more than 100 earnings reports are anticipated. Among the key earnings releases on Tuesday are those from prominent companies such as AMD (AMD), Uber (UBER), Spotify (SPOT), and SuperMicro (SMCI).
Additionally, investor focus remains on Washington, where the ongoing US government shutdown is postponing the release of essential economic data, including the influential jobs report originally scheduled for this week.
