Wall St futures dip as tech stocks take a breather
SPY•U.S. stock index futures fell on Monday as technology stocks eased from record highs. Dow futures were down 0.2%, S&P 500 futures 0.18% and Nasdaq futures 0.25%.
1. Futures decline
U.S. stock index futures dipped as technology stocks eased from record highs and investors looked for clues on monetary policy. Intel fell more than 4% in premarket trading, Micron dipped 0.3% and Nvidia edged up 0.5% after touching a record high on Friday.
2. Rates and oil
Traders saw an 80% chance that the Federal Reserve would hold interest rates steady this month, while a December rate hike remained largely priced in. The 10-year Treasury yield was at 5.28%, near multi-year highs, and Brent crude hovered near $100 a barrel.
3. Stocks in focus
PTC jumped 37% in premarket trading after Schneider Electric agreed to buy the software firm in an all-cash deal valuing its equity at about $22.6 billion. Cerebras Systems rose 6.6% after OpenAI CEO Sam Altman called it a close partner.
