5 Things to Know Before the Stock Market Opens
Stock futures are trending lower as major indexes seem poised for a losing week amid a weakening AI trade. Investors are also monitoring Tesla closely after shareholders approved CEO Elon Musk’s significant pay package.
Market Overview
- Stock futures declined in early trading, signaling a drop for major market indexes this week.
- Nasdaq 100 futures were down 0.4%, S&P 500 futures fell 0.3%, and Dow Jones futures dropped 0.3% in premarket.
- Despite some strong earnings from tech companies, major indexes have pulled back and experienced volatility.
- On Friday, the Nasdaq was down 2.8% for the week, the S&P 500 slipped by over 1.7%, and the Dow Jones declined about 1.4%.
Tesla CEO Pay Package Approval
Tesla shareholders overwhelmingly approved a trillion-dollar compensation package for CEO Elon Musk.
Government Shutdown Funding Efforts
Senate Republicans aimed to bring a new funding package to a vote to resolve the ongoing government shutdown.
Cryptocurrency Market
Bitcoin briefly fell below $100,000 this morning, continuing to hover near recent lows after months of volatility.
Video Game Release Delay
Take-Two Interactive Software's shares declined following another delay in the release of the highly anticipated video game “Grand Theft Auto VI.”
"Stock futures are moving lower in early trading as major market indexes appear set to decline this week."
Author's summary: Stock markets face pressure this week amid the fading AI trade and mixed signals from tech earnings, as major indexes retreat and key events unfold around Tesla, government funding, and cryptocurrency.