Wall Street Futures Slip as Tech Stocks Take a Breather
U.S. stock index futures edged lower on Monday as technology shares pulled back after reaching record highs in the previous session. Dow futures fell 0.2%, S&P 500 futures declined 0.18%, and Nasdaq 100 futures slipped 0.25%. Chip stocks were among the main drags, with Intel falling more than 4% and Micron Technology down 0.3%, while Nvidia gained 0.5%.
Investors were also assessing the Federal Reserve’s interest-rate outlook after weaker-than-expected U.S. jobs data reduced expectations of a rate hike this month. Traders now see an 80% chance that the Fed will keep rates unchanged in October, although a December hike remains largely priced in. Meanwhile, 10-year Treasury yields stayed near multi-year highs at around 5.28%, while oil prices remained close to $100 a barrel amid concerns over potential disruptions to Gulf energy infrastructure.
Markets will also watch comments from major central bank officials, including Federal Reserve Governor Christopher Waller, for further clues on monetary policy and inflation. Elsewhere, PTC surged 37% in premarket trading after Schneider Electric agreed to acquire the software company in a deal valuing its equity at about $22.6 billion, while Cerebras Systems gained 6.6% following positive comments from OpenAI CEO Sam Altman.
Pic courtesy: google/ images are subject to copyright
