US pre-open: Futures advance as markets look ahead to CPI reading, AI earnings

(Sharecast News) - Wall Street futures were in the green ahead of the open on Monday as investors looked ahead to a busy week for markets, with key inflation data and earnings from several major AI-linked companies due in the coming days. As of 1230 GMT, Dow Jones and S&P 500 futures had the indices opening 0.87% and 0.49% firmer, respectively, while Nasdaq-100 futures were 0.23% higher.

The Dow closed 237.33 points lower on Friday as investors digested a stronger-than-expected batch of US labour market data, while concerns over the potential implications of the Democrats' midterm election victory also continued to weigh on sentiment.

Ahead of Monday's open, technology stocks remained under pressure amid fears that a Democratic-controlled Congress could usher in tighter regulation of data centre development, energy consumption and AI infrastructure, potentially slowing investment across the sector.

The tech sector was also set to remain in focus following reports that Nvidia's board had launched an investigation into chief executive and co-founder Jensen Huang's relationship with a businesswoman that US intelligence agencies have allegedly identified as a Chinese spy, adding a fresh layer of uncertainty for one of the market's most influential AI stocks.

On the macro front, market participants were looking ahead to the consumer price index on Tuesday and the producer price index on Friday, with traders hoping to gain some insight into the Federal Reserve's thinking.

September wholesale inventories data will be published at 1500 GMT.

In the corporate space, Take-Two Interactive, Constellation Energy and Skydance were all scheduled to report quarterly earnings on Monday.

CoreWeave, Cisco and Applied Materials will all report earnings before the end of the week.





Reporting by Iain Gilbert at Sharecast.com