Nasdaq Futures for stocks indicated a downward trajectory on Tuesday, as market participants awaited a long-overdue U.S. employment report, with shares linked to artificial intelligence exerting pressure on the principal equity indices. Futures linked to the tech-heavy Nasdaq, the benchmark S&P 500, and the blue-chip Dow Jones Industrial Average experienced declines of 0.2%, 0.1%, and less than 0.1%, respectively. Yesterday, the Nasdaq, Dow, and S&P 500 concluded the trading session with declines of 0.6%, 0.2%, and 0.1%, respectively, as technology stocks faced continued pressure amid concerns surrounding the sustainability of the AI bubble.
Broadcom and Oracle declined nearly 6% and 3%, respectively, on Monday and have dropped about 18% and 17% over the past three sessions amid disappointing quarterly reports. Both experienced a minor decline prior to the opening bell on Tuesday. Alongside major technology stocks, market participants will focus on the postponed U.S. jobs report set for publication at 8:30 a.m. on Tuesday. Additionally, retail sales figures from October and business inventory levels from September will offer insights into consumer demand dynamics.
The 10-year Treasury yield, a key determinant of interest rates across various commercial and consumer loans, remained relatively stable from Monday’s closing figure at approximately 4.17%. The U.S. dollar index, which monitors the value of the greenback relative to a selection of foreign currencies, registered a decline of 0.2%, settling at 98.13. Yesterday, it recorded its lowest closing level at 98.31, a decline from the previous closing of 98.11 on October 6. Bitcoin was priced at approximately $87,200, having risen from a daily low of under $85,300.
Gold futures declined by 0.4%, settling at $4,320 per ounce. West Texas Intermediate futures, the U.S. crude oil benchmark, experienced a decline of 1.6%, settling at $55.90 per barrel. In corporate news, Ford Motor shares advanced 1% after it stated it expects roughly $19.5 billion in EV charges and intends to concentrate on gas and hybrid vehicles. Tesla stock pulled back slightly after jumping roughly 3.5% yesterday to finish at its highest closing level of 2025 following an X post by CEO Elon Musk on Sunday confirming that the company was testing driverless cars in Austin, Texas.