From Nasdaq Media Group:

U.S. stock index futures dropped at the beginning of the week, with Dow down 0.11%, S&P down 0.11%, and Nasdaq down 0.18%. Federal Reserve officials’ speeches and key inflation data later this week are in focus, following strong gains last week. Atlanta Fed President projects a single quarter-point rate cut instead of two.

Market optimism may be affected by the upcoming PCE price index reading, GDP estimates, and consumer confidence data. Dow e-minis down 0.11%, S&P 500 e-minis down 0.11%, Nasdaq 100 e-minis down 0.18%. Intel and AMD dropped over 2% after China’s guidelines to phase out U.S. microprocessors. Crypto and blockchain stocks rose, while Tesla lagged with an 0.8% decline.

Megacap growth stocks mostly lower, while Nvidia rose 0.9% and United Airlines fell 2.1% due to increased FAA oversight. President Joe Biden signed a $1.2 trillion spending bill into law to fund the government through the fiscal year. Federal Reserve officials, inflation index, and economic data in focus this week.



Read more at Nasdaq Media Group: US STOCKS-Futures ease at start of holiday-shortened week