5 Things to Know Before the Stock Market Opens
Stock futures are trending lower as major market indexes appear set to decline this week. The AI trade weakens, and investors focus on Tesla after shareholders approved CEO Elon Musk’s significant pay package.
Market Futures Decline
- Nasdaq 100 futures dropped 0.4% in early trading.
- S&P 500 futures fell 0.3%.
- Dow Jones Industrial Average futures declined by 0.3%.
Despite some strong earnings from tech firms, major indexes have retreated amid volatile trading.
Tesla CEO Pay Package Approved
Tesla shareholders overwhelmingly approved a trillion-dollar pay proposal for CEO Elon Musk.
Government Shutdown and Bitcoin Update
- Senate Republicans are pushing a new funding package to end the government shutdown.
- Bitcoin briefly fell below $100,000, hovering near its lowest levels in months.
Take-Two Interactive Delays Game Release
Take-Two Interactive Software stock declined again after delaying the release of the highly anticipated video game “Grand Theft Auto VI.”
Weekly Market Performance
The Nasdaq fell by 2.8% on the week, the S&P 500 slipped over 1.7%, and the Dow Jones dropped about 1.4%.
Summary: Stock futures and major indexes are down amid a weakening AI trade and market volatility, while Tesla’s CEO pay gets shareholder approval and economic and cryptocurrency uncertainties persist.