Major U.S. stock indexes are poised to open lower on Monday, adding to the previous session’s steep losses.
Futures tied to the Dow Jones Industrial Average were down 0.6% in recent trading, while those linked to the S&P 500 and Nasdaq each fell 0.8%. The S&P 500 and Nasdaq Composite both dropped more than 1% on Friday, erasing most of the gains posted earlier during the holiday-shortened trading week.
Boeing (BA) shares were down more than 3% in premarket trading after a 737-800 operated by South Korea’s Jeju Air crashed, killing 179 people. Boeing shares have lost one-third of their value this year as the company has faced a series of aircraft quality problems and a cash drain following a nearly two-month strike by its union machinists.
Large-cap technology stocks were down across the board this morning, led by a 2% decline for shares of EV maker Tesla (TSLA). Apple (AAPL), which is on the verge of becoming the first company to ever have a market value of $4 trillion, was down 1% ahead of the bell, while Nvidia (NVDA), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), Meta Platforms (META) and Broadcom (AVGO) also lost ground.
The yield on 10-year Treasurys, which correlates with market expectations about where interest rates are headed, was at 4.58% in recent trading, down from 4.62% on Friday.
Bitcoin was at $93,800, down from its Friday highs around $97,000 but little changed from the levels it traded at on Sunday.
Gold futures were holding steady at around $2,630 an ounce, while crude oil futures rose about 0.5%.
Major Index Stock Futures Lose Ground
38 minutes ago
Futures tied to the Dow Jones Industrial Average were down 0.6% in recent trading.
TradingView
S&P 500 futures were down 0.8%.
TradingView
Nasdaq 100 futures were also off 0.8%.
TradingView