5 Things to Know Before the Stock Market Opens
Stock futures are trending downward as markets face a likely losing week amid a retreat in the AI sector, with investors closely watching Tesla after shareholders approved CEO Elon Musk’s substantial compensation package.
Market Overview
In early trading, stock futures point toward lower openings, suggesting major indexes will decline this week. The Nasdaq 100 futures dropped by 0.4%, S&P 500 futures fell by 0.3%, and Dow Jones Industrial Average futures were down 0.3%.
Tesla CEO Compensation Approval
Tesla shareholders overwhelmingly approved a trillion-dollar pay proposal for CEO Elon Musk.
Political and Crypto Updates
- Senate Republicans aimed to bring a new funding package to a vote, seeking to end the government shutdown.
- Bitcoin briefly dipped below $100,000 as the cryptocurrency remains near its lowest levels in months.
Gaming Industry News
Take-Two Interactive Software’s stock declined after delaying the release of the highly anticipated video game, Grand Theft Auto VI, once again.
Weekly Market Performance
Major indexes have fallen this week in volatile trading as investors moved away from the AI sector despite strong earnings from some tech companies. For the week, the Nasdaq lost 2.8%, the S&P 500 dropped over 1.7%, and the Dow Jones declined about 1.4%.
Summary: This week sees major market indexes falling due to weaker AI trade and uncertainty, while Tesla’s CEO pay approval and delayed game releases add to investor caution.