US stock futures exhibited minimal movement following a lackluster session on Wall Street, where major technology stocks faced significant pressure amid ongoing discussions between the US and Iran.
Futures linked to the Dow Jones Industrial Average remained relatively flat, indicating a cautious sentiment among investors. Similarly, futures tied to the benchmark S&P 500 experienced a slight decline of 0.1%, while those associated with the tech-oriented Nasdaq 100 dropped by 0.2%.
The previous trading session saw a general downturn in stocks, with SpaceX’s shares plummeting for the third consecutive day, reflecting broader struggles within the Big Tech sector. This dip is occurring against the backdrop of critical negotiations between US officials and Iranian representatives, which seem to be advancing but still leave investors apprehensive about potential economic implications.
Looking ahead to Tuesday, major companies such as FedEx and Cerebras Systems are set to announce their earnings. Notably, Cerebras’ report will mark the AI chip manufacturer’s first earnings release since its public debut in May.
The week is poised to feature several key financial indicators, including Micron’s earnings report scheduled for Wednesday and the highly anticipated release of May’s Personal Consumption Expenditures (PCE) data on Thursday. This PCE report is particularly significant, as it serves as the Federal Reserve’s preferred measure of inflation, providing critical insights that could influence future monetary policy decisions.
