S&P 500 futures remained relatively unchanged on Monday evening following a third consecutive session of declines as the broad market index failed to recover from last week’s sell-off. Futures tied to the S&P 500 and Nasdaq-100 hovered near the flatline, while futures linked to the Dow Jones Industrial Average gained 57 points, or 0.1%. During Monday’s regular trading, key tech stocks weighed on the S&P 500 and Nasdaq Composite, pushing both into negative territory. Palantir, a defense tech and AI-focused company, dropped over 10%, extending its losses from last week. Microsoft fell 1% after a TD Cowen report indicated the company was cutting data center spending, while Nvidia slid 3% ahead of its quarterly earnings report due Wednesday after the market close. The Nasdaq Composite also turned negative year-to-date amid Monday’s tech-driven declines. Doug Clinton, managing partner at Deepwater Asset Management, noted on CNBC’s “Closing Bell” that while some investors may believe the AI trade is over, he views it as still robust with potential for another two to four years of growth. This week, Wall Street is anticipating key earnings reports, including Nvidia’s results and Home Depot’s release before Tuesday’s opening bell. Investors are also awaiting the latest U.S. consumer confidence data, expected at 10:00 a.m. ET on Tuesday. Economists predict a reading of 102.3 for February, down from January’s 104.1. This report precedes other significant economic data releases later in the week, including January’s personal consumption expenditures price index on Friday, a key inflation gauge monitored by the Federal Reserve. — news from CNBC
