5 Things to Know Before the Stock Market Opens
Stock futures are trending downward as the market heads for a losing week amid a weakening AI trade. Investors are closely watching Tesla after its shareholders approved CEO Elon Musk’s substantial pay package.
Market Overview
Stock futures are lower in early trading, signaling that major market indexes may decline this week:
- Nasdaq 100 futures dropped by 0.4%
- S&P 500 futures fell 0.3%
- Dow Jones Industrial Average futures decreased by 0.3%
This follows a week of sometimes-volatile trading, where investors distanced themselves from the AI sector despite strong earnings from some tech companies.
Major Index Performance This Week
- Nasdaq is down 2.8%
- S&P 500 has slipped over 1.7%
- Dow Jones dropped around 1.4%
Tesla’s CEO Pay Package Approved
Tesla shareholders overwhelmingly approved a trillion-dollar pay proposal for CEO Elon Musk.
Political and Cryptocurrency Updates
- Senate Republicans aim to bring a new funding package to vote to end the government shutdown.
- Bitcoin briefly fell below $100,000 this morning, hovering near its lowest levels in months.
Industry News
Take-Two Interactive Software shares are falling after the company delayed the release of its popular video game Grand Theft Auto VI again.
“Here’s what you need to know today.”
Summary: The market faces pressure from a weakening AI sector and political uncertainties, while Tesla’s CEO pay approval and delays in major game releases influence investor sentiment.