Market Overview
U.S. stock futures were largely unchanged on Monday evening following a mixed close on Wall Street. At 20:50 ET, S&P 500 futures were flat at 7,669.25 points, Nasdaq 100 futures slipped 0.1% to 29,089.75 points, and Dow Jones futures remained steady at 53,479.0 points. Earlier in the regular session, the Dow rose 0.3%, the S&P 500 fell 0.3%, and the Nasdaq dropped 0.8%.
Technology Sector Pressure
Nvidia (NASDAQ:NVDA) shares declined 2.9%, and other semiconductor names such as Micron Technology (NASDAQ:MU) and Broadcom (NASDAQ:AVGO) also moved lower, dragging down the technology‑heavy indexes. The chip‑maker is slated to release its second‑quarter fiscal 2027 results after the Wednesday closing bell, and investors are watching the outlook for AI‑related spending.
Geopolitical and Energy Developments
Treasury Secretary Scott Bessent warned that entities doing business with Tehran could face secondary sanctions, describing the U.S. approach as an "economic D‑Day" against Iran. Brent crude slipped below $92 a barrel as markets digested the new measures. Bond markets responded with the 10‑year Treasury yield falling about 3 basis points to roughly 4.70%, and the 30‑year yield easing to about 5.23% after having reached multi‑year highs the previous week. CNBC reported that the Treasury could draw on its nearly $1 trillion Treasury General Account to fund expanded government bond buybacks.
Upcoming Economic Data and Fed Signals
Later this week, investors will receive the July personal consumption expenditures (PCE) inflation figure, a key gauge for the Federal Reserve’s policy stance. The annual Jackson Hole symposium begins Thursday, with Fed Chair Kevin Warsh scheduled to speak on Friday, potentially offering clues on the future path of interest rates.
Outlook
The market enters the week with limited room for disappointment, as Nvidia’s earnings, the PCE inflation release, Fed communications, and heightened geopolitical risk around Iran could collectively determine whether the recent equity rally can sustain its momentum.