U.S. stock futures were trending higher early Monday as investors braced for a week packed with major economic releases. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.16%, 0.22%, and 0.29%, respectively, at 3:14 a.m. EST on December 15.
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The three major indexes ended last week with mixed results amid selling pressure on AI and large-cap technology stocks. Oracle (ORCL) shed about 12.7%, while Broadcom (AVGO) dropped 11%, leading the losses. The S&P 500 declined 0.6%, and the Nasdaq Composite fell 1.7%. Meanwhile, the Dow climbed 1.1%, buoyed by its lighter tech weighting.
This week, traders will focus on key economic reports, which could sway market sentiment. November nonfarm payrolls, October retail sales data, and the unemployment rate are due on Tuesday. Meanwhile, November’s consumer price index (CPI) data and weekly jobless claims report will be released on Thursday.
Earnings are also in the spotlight, with reports due from Micron (MU), Lennar (LEN), General Mills (GIS), Nike (NKE), FedEx (FDX), Accenture (ACN), Darden Restaurants (DRI), Carnival (CCL), and Paychex (PAYX).
Notably, the U.S. 10-year Treasury yield was down, floating near 4.16%. WTI crude oil futures were trending higher, hovering near $57.74 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price increased to nearly $4,340 per ounce on Monday.
Elsewhere, European indexes opened lower on Monday ahead of regional inflation data and central bank rate decisions.
Asia-Pacific Markets Fall
Asia-Pacific markets declined on Monday after China’s November retail sales and industrial production missed expectations. Investors also eyed ongoing Wall Street losses in the AI trade.
Hong Kong’s Hang Seng Index dropped 1.39%. In China, the Shanghai Composite fell 0.55%, while the Shenzhen Component declined 0.77%. Meanwhile, Japan’s Nikkei lost 1.31%, and the Topix was down 0.22%.
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