U.S. stock futures slipped early Tuesday as concerns about the steep valuations of tech and artificial intelligence stocks and fading hopes of an interest rate cut. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.66%, 0.56%, and 0.80%, respectively, at 8:10 a.m. EST on November 18.
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During Monday’s trading session, all three major indexes closed in the red amid growing worries over the sustainability of the AI rally and the upcoming interest rate decision. The Nasdaq Composite fell 0.84%, the S&P 500 dropped 0.92%, and the Dow declined 1.18%. Investors are now awaiting chip giant Nvidia’s (NVDA) Q3 Fiscal 2026 earnings on Wednesday, which will provide insights about the strength of the AI market.
Turning to trending stocks, Axalta Coating (AXTA) stock was up nearly 7% in Tuesday’s pre-market trading on news of the company’s merger with Akzo Nobel (AKZOY). Meanwhile, Home Depot (HD) stock was down 3.6% as of writing, after the home improvement retailer missed Q3 earnings estimates and issued a weak outlook.
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