Traders enactment arsenic the marketplace opens connected the level of the New York Stock Exchange (NYSE) connected November 18, 2025 successful New York City.
Spencer Platt | Getty Images
Stock futures are small changed Tuesday nighttime aft large U.S. indexes extended their losses, driven again by unit successful tech shares. Investors are present readying for Nvidia's net study to pass the spot of the AI trade.
Futures tied to the Dow Jones Industrial Average slipped 2 points, hovering adjacent the flatline. S&P futures fell little than 0.1%, portion Nasdaq 100 futures were unchanged.
Tuesday's league saw the Dow Jones Industrial Average and S&P 500 notch their 4th consecutive losing days, with the S&P 500 notching its longest descent since August. The tech-heavy Nasdaq Composite recorded its 5th antagonistic time successful six sessions. Bitcoin briefly dropped beneath $90,000 on Tuesday earlier recovering, portion golden prices roseate from a one-week low.
Most sectors successful the broader marketplace closed up higher connected Tuesday but cardinal tech names erstwhile again weighed connected stocks, with blistery AI stocks specified arsenic Nvidia, Palantir, Microsoft and Advanced Micro Devices closing successful the red. The Technology Select Sector SPDR Fund (XLK) closed 1.6% lower. Technology and user discretionary person been the astir beaten-down sectors this month, portion wellness attraction stands retired arsenic the champion performer.
Weakness successful tech comes up of Nvidia's highly awaited third-quarter results owed aft Wednesday's marketplace close. Analysts mostly expect that Nvidia — the largest institution successful the broad-market scale — volition meaningfully bushed Wall Street's expectations and forecast beardown income maturation driven by request for its AI chips and different infrastructure. But Nvidia has a precocious barroom to beat. Investors person taken profits from their tech holdings successful caller days, reflecting heightened concerns that the AI roar has tally up the valuations of Nvidia and different tech hyperscalers astatine an unsustainable pace.
Investors are besides waiting for net reports from large retailers Target, Lowe's and TJX Companies connected Wednesday morning. Results could springiness investors a stronger representation of however user spending is faring, peculiarly fixed the deficiency of economical information successful caller weeks owed to the U.S. authorities shutdown.
"Tech has been flying precocious this twelvemonth and truthful volatility is not surprising. ... Volatility amongst tech stocks is besides boosted by the information that there's a batch of attraction risk, some astatine the scale level and adjacent capitalist portfolios," said Sonu Varghese, global macro strategist astatine Carson Group. "Despite the large gains, investors with concentrated portfolios that are chiefly exposed to AI-related stocks stay connected borderline and susceptible to immoderate pullback. The dynamic is astir apt made worse arsenic a batch of investors effort to diversify astatine the aforesaid clip erstwhile stocks fall."
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