Stock futures indicated a downward trajectory on Monday following the S&P 500 and Nasdaq Composite’s interruption of a three-week winning streak, with semiconductor stocks emerging as some of the most significant decliners. Futures for the Nasdaq 100, S&P 500, and Dow Jones Industrial Average were observed to be down by 0.8%, 0.3%, and 0.2%, respectively, in the latest trading session. The three major U.S. stock indexes concluded Friday on an upward trajectory, with the blue-chip Dow gaining over 500 points; however, they recorded a decline for the week. The benchmark S&P 500 and tech-focused Nasdaq Composite experienced their initial losing weeks in four, whereas the Dow recorded its second consecutive week of losses.
Ahead of the opening bell Monday, the Roundhill Memory ETF was down 3.5%, with components Sandisk, Western Digital, SK Hynix, Micron Technology, and Seagate Technology all pointing lower. Additionally, Samsung Electronics, its largest holding, had dropped nearly 9% in South Korean trading. The broader iShares Semiconductor ETF was down 2% as components Marvell Technology, Intel, Advanced Micro Devices, and Applied Materials pulled back. Crude oil prices experienced a decline as investors anticipate a press conference by Treasury Secretary Scott Bessent this afternoon, during which he is expected to outline the “economic D-Day” sanctions on Iran. West Texas Intermediate futures, the U.S. benchmark, recently traded down 2.2% at $85.10 a barrel, while Brent crude, the global benchmark, was 1.6% lower at $92.90.
Treasury yields experienced a slight decline yet continue to be elevated, notwithstanding the government’s recent initiatives aimed at stabilising the markets. The yield on the 10-year Treasury, which influences interest rates on a variety of consumer loans including mortgages, was near 4.71%, down nearly three basis points from Friday’s close. The 30-year yield, which reached a nearly two-decade high of 5.34% last week, was recently recorded at 5.25%, reflecting a decline of almost three basis points. Gold futures advanced 0.5% to $4,705 an ounce, marking their highest price since mid-May. The U.S. dollar index, which monitors the value of the greenback relative to a selection of foreign currencies, registered an increase of 0.2% at 98.99. Bitcoin was trading around $77,400, showing minimal fluctuation over the past 24 hours, yet remaining close to its highest level in three months. Cryptocurrencies experienced a notable ascent on Friday, as bitcoin surged overnight, surpassing the $79,000 mark for the first time since May.
The world’s premier cryptocurrency was recently trading around $77,000. Shares of crypto-linked firms Robinhood Markets and Coinbase Global experienced a slight decline following a significant surge on Friday, during which Robinhood surged nearly 14%, positioning it as a leading gainer in the S&P 500. The Magnificent Seven mega-cap tech stocks exhibited a mixed performance, showing little variation prior to the market opening. Shares of Nvidia edged higher following a report that the company had informed some of its largest customers that servers containing its AI chips will see price hikes of “more than 15% in many cases” on systems shipped in early 2027, as it prepares to report highly anticipated quarterly results Wednesday afternoon. Tesla ticked lower after surging more than 5% to lead the septet’s gains Friday. Monday is a subdued day for corporate earnings reports, with Chinese firms PDD Holdings, the parent of Temu, and EV maker XPeng representing the most significant entities releasing results today.