Stock market today: Dow, S&P 500, Nasdaq futures stall after tech's biggest rally since May

Futures linked to the Dow Jones Industrial Average (YM=F) and to the S&P 500 (ES=F) some hovered beneath the flatline. Contracts connected the tech-heavy Nasdaq 100 (NQ=F) ticked down 0.1%, aft Monday’s league delivered a beardown commencement to the holiday-shortened trading week.

Stocks are trying to clasp onto the momentum that saw the Nasdaq Composite (^IXIC) surge 2.7% arsenic tech megacaps snapped backmost from a bruising stretch. But adjacent with Monday’s bounce, the large US indexes are inactive connected gait for monthly losses arsenic investors reassess sky-high valuations successful AI and maturation stocks.

Shares of Nvidia (NVDA) came nether unit aft The Information reported that Meta (META) is successful talks to walk billions connected Google's AI chips. The Alphabet-owned company's (GOOG, GOOGL) increasing situation to Nvidia's enactment successful AI datacenters pulled the banal 2% little successful premarket. That is weighing successful crook connected stocks much broadly, fixed Nvidia's show has been cardinal to the S&P 500's (^GSPC) rally this year.

Meanwhile, investors are keeping adjacent ticker connected the Fed. Markets present delegate an 80%-plus probability to a quarter-point complaint chopped successful December. Rate-cut expectations jumped aft New York Fed President John Williams signaled past week that cuts could travel successful the "near term," and Fed politician Chris Waller added substance to that occurrence connected Monday.

Delayed economical information releases commencement to spot the airy of time this week. On Tuesday, markets get September updates connected shaper prices and retail sales, positive a November speechmaking of user confidence, among different data.

On the net front, Alibaba (BABA), and retailers Kohl's (KSS) and Best Buy (BBY) are the highlights successful the holiday-shortened week. US markets volition beryllium closed Thursday for Thanksgiving and volition run connected a reduced docket connected Friday, shutting astatine 1 p.m. ET.

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