Stock futures were mostly flat on Monday night, following a rocky start to the last week of February. Futures for the Dow Jones Industrial Average gained a slight 45 points, while the S&P 500 and Nasdaq 100 each climbed by about 0.1%.
In the regular session, major indexes took a hit. Concerns over artificial intelligence affecting various industries and President Trump’s threat to increase tariffs to 15% kept investors anxious. The Dow fell nearly 822 points, around 1.7%, largely due to a 13% drop in IBM’s shares. The Nasdaq Composite dropped 1.1%, and the S&P 500 lost about 1%, slipping into negative territory for the year.
Many software companies, including Microsoft and CrowdStrike, faced losses, as did cybersecurity and some financial firms. Warren Pies, a strategist at 3Fourteen Research, discussed market trends on CNBC, noting, “The market has lost momentum… there’s been a really unhealthy rotation.” He recommended being cautious and waiting for clearer signals before investing further in tech and financial stocks.
Interestingly, Pies had downgraded U.S. equities to neutral earlier this month. He believes there’s potential for tech stocks to rebound due to their underlying strength. “It has been a healthy pullback,” he said, urging investors to wait until the market direction becomes clearer.
As we look forward, traders are eyeing an upcoming event from AI firm Anthropic, which is set to unveil new features for its product, Claude. The anticipation around this event has already impacted stock prices in the software sector.
On Tuesday, the focus will shift to consumer confidence data and earnings reports from Home Depot. Additionally, key earnings from Nvidia, Salesforce, and Snowflake later this week may influence market trends amid the current tech pullback.
Despite current market fluctuations, experts point to opportunities for growth, especially within the tech sector, suggesting that watching for those crucial earnings announcements could be key for investors navigating this changing landscape.
For further insights into market performance, consider checking resources like MarketWatch or CNBC for the latest updates.
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