Stock futures barely budged as a pivotal week of data looms large. The markets are only marginally shifted after a turbulent stretch where tech leadership rotated into more reasonably valued corners of the market. Investors are bracing for a slate of significant U.S. economic releases this week that could steer sentiment and trading moves.
Dow Jones Industrial Average futures edged lower, while S&P 500 futures slipped about 0.1% and Nasdaq-100 futures declined around 0.2%.
Last week, the major indices retraced: the S&P 500 and Nasdaq Composite posted declines as Oracle and Broadcom pulled back amid a shift away from artificial intelligence leadership. The S&P 500 slipped 0.6% for the week, and the Nasdaq fell 1.7%. In contrast, the Dow gained about 1.1%, reflecting its lower exposure to tech and AI-driven stocks.
Oracle dropped roughly 12.7% over the week, Broadcom fell more than 7%, and the technology sector within the S&P 500 declined by about 2.3%. As Ed Yardeni of Yardeni Research observed, the heavyweight Magnificent-7 could face a meaningful challenge in 2026 as stiff competition in AI narrows the advantages they currently enjoy. He suggested the real winners could be the broader set of stocks he calls the Impressive 493 in the S&P 500.
This week’s array of economic data may set the tone for market direction. Key releases include November’s nonfarm payrolls and October’s retail sales, both due Tuesday, with the CPI report for November scheduled for Thursday. The delays to these figures stemmed from the fall government shutdown.
Upcoming data schedule highlights:
- Tuesday, Dec. 16: 8:30 a.m. Nonfarm Payrolls (November); 8:30 a.m. Retail Sales (October)
- Thursday, Dec. 18: 8:30 a.m. Consumer Price Index (November)
For broader context and deeper analysis, you can read the full weekend note here. — Sarah Min
End of report
Stock futures open little changed, with a light-volume backdrop awaiting an action-packed week of data.
