Stock futures are trending lower as markets face a losing week, driven by weakening interest in the AI sector and important developments around Tesla and government funding.
In premarket trading, major market indexes are expected to decline this week. Nasdaq 100 futures dropped 0.4%, S&P 500 futures fell 0.3%, and Dow Jones Industrial Average futures decreased by 0.3%. This week’s trading has been volatile with investors stepping away from the AI sector despite some strong tech earnings.
Tesla shareholders have overwhelmingly approved CEO Elon Musk’s massive pay package, which totals in the trillions of dollars.
Senate Republicans aim to bring a new funding package for a vote, hoping to resolve the ongoing government shutdown.
Bitcoin briefly dipped below $100,000 amid ongoing weaknesses, continuing to hover near its lowest levels in several months.
Take-Two Interactive Software shares have declined after the company delayed the release of the highly anticipated video game “Grand Theft Auto VI” once again.
"Stock futures are trending lower as markets head for losing week as the AI trade weakens while investors watch Tesla after shareholders approved CEO Elon Musk’s big pay package."
"Major market indexes have retreated this week in sometimes-volatile trading as investors turned their back on the AI trade, despite strong earnings results some tech firms posted."
Summary: This week, market futures weaken amid a retreat from AI investments, Tesla’s CEO compensation approval, government funding uncertainty, bitcoin dips, and delays in a major video game release.