Stock Futures Flat Amid Rising Oil Prices and Fed Rate Decision Outlook
On Monday evening, stock futures remained nearly flat ahead of the Federal Reserve's policy decision due later in the week. S&P 500 futures rose slightly by 0.07%, while Dow Jones Industrial Average futures gained 28 points (or 0.05%), and Nasdaq 100 futures advanced 0.08%. During regular trading hours, major indices fell: the Dow dropped over 0.3%, S&P 500 lost 0.5%, and the Nasdaq Composite declined about 0.6%. The decline was partly driven by a sell-off in AI-related stocks after Anthropic CEO Dario Amodei called for slower AI development, while OpenAI's Sam Altman ruled out an IPO this year due to safety concerns. Nvidia fell nearly 3%, and Corning dropped over 13%. The iShares AI Innovation ETF also declined almost 4%. Higher Treasury yields and rising oil prices further pressured markets. The 10-year yield briefly hit 5%, while Brent crude closed above $105 a barrel after Saudi Arabia shut down a key pipeline.
Topics: ai stocks federal reserve policy oil prices stock market treasury yields