The U.S. stock market began the new trading week with a calmer tone as futures of major indexes edged lower. Specifically, S&P 500 futures and Nasdaq 100 futures both slipped around 0.1%, while Dow Jones futures also dipped slightly after Wall Street closed a strong week with new record highs, driven by gains in technology stocks.
Analysts view this pullback as a natural correction following a period of sharp gains. Buying momentum has gradually weakened as investors adopt a more cautious stance, waiting for upcoming economic data and new guidance from the Federal Reserve (Fed) regarding interest rate policy.
Previously, the strong rally in the technology sector — led by giants such as Nvidia, Microsoft, and Apple — had fueled Wall Street’s steady climb, pushing the S&P 500 and Nasdaq Composite to historic highs. The rally was largely supported by expectations that the Fed may soon start a rate-cut cycle and by robust investment flows into artificial intelligence (AI).
However, many experts warn that the current optimism could leave the market vulnerable to sudden changes. Alongside corporate earnings, investors are closely watching developments in Washington, where the risk of a temporary government shutdown due to a budget impasse still lingers.
In addition, the possible delay in the release of key economic data — including nonfarm payrolls, employment indicators, and trade reports — is adding uncertainty, prompting investors to avoid large new positions in the short term.
Despite the slight decline in U.S. stock futures, analysts maintain that the medium-term outlook for Wall Street remains positive, supported by easing inflation, lower real interest rates, and stable consumer confidence. These factors are expected to continue underpinning the market’s upward momentum through the fourth quarter of this year.
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