Dow, S&P 500, Nasdaq Futures Drop

U.S. stock futures dropped after a mixed session on Wall Street that saw AI optimism in megacap companies drive the S&P 500 and Nasdaq Composite higher, Rian Howlett reported for Yahoo Finance.

Strong third-quarter results and elevated AI spending from major cloud players continue to underpin investor confidence. (Photo: New York Stock Exchange Facebook)

Dow Jones Industrial Average futures lost 0.5%. S&P 500 futures slid 0.8%, and Nasdaq 100 futures dropped 1.1%. AI-heavy tech names once again fueled gains on Monday.

Amazon notched a record close after announcing a new partnership with OpenAI, helping the Nasdaq advance nearly 0.5%. The S&P 500 rose roughly 0.2%, while the Dow fell about 0.5%.

Strong third-quarter results and elevated AI spending from major cloud players continue to underpin investor confidence.

The “Magnificent Seven” stocks remain key market drivers, though their performance has grown uneven compared with the indexes they belong to, as an increasing number of companies from major gauges are reporting in the red.

Looking ahead to the rest of earnings season, more than 100 reports are due this week. Tuesday’s highlights include AMD, Uber, Spotify, and SuperMicro.