US Stock Futures Little Changed in Early Trading on December 15 as Key Economic Data Week Begins

Deep News12-15 07:20

Wall Street saw mixed performance last week, and on Monday morning, stock index futures showed little movement. A significant sector rotation occurred, with funds flowing out of technology stocks into undervalued sectors. Traders are also preparing for a series of upcoming US economic data releases.

Dow Jones Industrial Average futures rose 43 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures both edged up 0.1%.

Last week, the S&P 500 and Nasdaq Composite declined as AI-related stocks, led by Oracle and Broadcom, faced sell-offs. The S&P 500 dropped 0.6%, while the Nasdaq Composite fell 1.7%. The Dow Jones Industrial Average, with less exposure to tech and AI stocks, gained 1.1%.

Oracle plunged 12.7% last week, and Broadcom slid over 7%. The S&P 500 technology sector declined 2.3%.

"As intense competition in AI begins to erode long-standing monopolies, the 'Magnificent Seven' in the S&P 500 may lose some of their shine by 2026," said Ed Yardeni, President of Yardeni Research. "The beneficiaries of this competition will likely be the 'other 493 companies' in the index."

This week's market direction may hinge on economic data releases.

November's nonfarm payrolls report and October retail sales data, both delayed due to the US government shutdown in the fall, will be released on Tuesday. November's Consumer Price Index (CPI) is scheduled for Thursday.

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