U.S. stock index futures eased on Monday evening after Wall Street opened the week with gains concentrated in technology names, as investors shifted attention to this week’s Federal Reserve minutes and the start of the second-quarter earnings calendar.
Futures action: S&P 500 Futures were down about 0.2% at 7,581.00 points, while Nasdaq 100 Futures fell 0.7% to 29,737.75 as of 21:42 ET (01:42 GMT). Dow Jones Futures were effectively flat at 53,434.0 points.
In regular trading earlier, the Dow Jones Industrial Average closed at another record high above the 53,000 level. The NASDAQ Composite advanced 1.1%, and the S&P 500 increased 0.7%, buoyed in part by a rebound among semiconductor stocks.
Chipmaker Broadcom Inc (NASDAQ:AVGO) climbed after extending a chip development agreement with Apple through 2031, a move that helped push the Philadelphia Semiconductor Index higher by more than 2%.
Market participants were also parsing preliminary second-quarter results from Samsung Electronics (KS:005930). The world's largest memory chipmaker is expected to report another record quarter, supported by strong demand for AI memory chips and constrained supply across the industry.
Attention now turns to the Federal Reserve's minutes from its most recent policy meeting, due on Wednesday, which traders hope will provide additional clarity on the interest-rate outlook.
According to CME FedWatch data referenced during the session, market participants continued to assign a relatively low probability to a July rate hike, following last week's softer U.S. employment data.
The corporate earnings season begins to accelerate this week, with PepsiCo Inc (NASDAQ:PEP) scheduled to report on Thursday and Delta Air Lines Inc (NYSE:DAL) on Friday, ahead of results from major U.S. banks next week.
Investors will also monitor SpaceX's inclusion in the Nasdaq-100 on Tuesday, an event anticipated to drive elevated trading volumes while the AI sector's momentum remains under scrutiny.
Market context: The overnight pullback in futures follows a day in which key averages advanced, led by technology and chipmakers, even as market participants prepare for incoming central bank communication and a cascade of corporate reports that should add fresh data points to investor decision-making.