From Nasdaq:

Nasdaq futures took a 1% slide due to lower-than-expected holiday-season ad sales from Alphabet and increased spending on AI. Concern over tech stocks is growing, furthered by Tesla’s warning last week. Advanced Micro Devices dropped 6.2%.

Federal Reserve will be expected to maintain current rates during their 2 p.m. meeting. Investors are anticipating any news about U.S. rate cuts, potentially affecting the tech-heavy stocks market. Earnings reports from Apple, Meta Platforms and Amazon are expected later.

About 78.5% of the S&P 500 companies have surpassed earnings estimates. Despite these, tech companies are facing challenges. A report on employment numbers will be analyzed to observe how the tech-heavy stock market will further be affected.

Thermo Fisher Scientific forecast a profit below expectations. Elon Musk’s $56 billion pay was voided, which led to a drop of 2.9% at Tesla. Mondelez International dropped 4.5%. This is Ankika Biswas & Johann M Cherian for Reuters in Bengaluru.



Read more: US STOCKS-Nasdaq futures sink as Alphabet, Microsoft disappoint; Fed decision in focus