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U.S. stock futures edged slightly lower on Monday, as investors adopted a cautious stance at the start of a pivotal week featuring delayed U.S. employment and inflation data, alongside another wave of corporate earnings.
At 05:55 ET (10:55 GMT), Dow Jones futures were down 48 points, or 0.1%, S&P 500 futures slipped 18 points, or 0.3%, while Nasdaq 100 futures underperformed, falling 115 points, or 0.5%.
The muted start follows a strong rebound on Wall Street late last week, when major indices recovered part of their earlier AI-driven losses. The blue-chip Dow Jones Industrial Average surged past the 50,000 milestone for the first time in history, while the S&P 500 rose nearly 2% and the tech-heavy Nasdaq Composite advanced about 2.2%.
Earnings season remains in focus
Last week’s rally was fueled largely by a rebound in chipmakers and artificial intelligence-related stocks, which had come under intense pressure earlier amid concerns over technology disruption, elevated valuations, and profit margin risks.
The tech sector had suffered sharp selloffs as investors rotated out of high-growth names, worried that rapid AI advances could undermine traditional software business models and weigh on future earnings.
Corporate results will remain a key driver this week, with major names such as Coca-Cola and Ford Motor scheduled to report quarterly earnings. On Monday, attention turns to ON Semiconductor, one of the early highlights of the earnings calendar.
The chipmaker previously issued fourth-quarter revenue and profit guidance broadly in line with expectations. Strong demand for its power management solutions used in AI data centers has helped offset weaker electric vehicle demand in North America and Europe, which has weighed on spending for its silicon carbide chips.
Several other high-profile technology companies, including Datadog, Spotify, Cisco, and Applied Materials, are also set to report later this week, offering further insight into the health of the tech sector.
Key U.S. data in the spotlight
Beyond earnings, investors are bracing for a series of important U.S. economic releases that were postponed due to a brief government shutdown.
The January nonfarm payrolls report, one of the most closely watched indicators of labor market health, is now scheduled for release on Wednesday. The data comes after a private-sector employment report last week showed weaker-than-expected job growth, raising concerns that hiring momentum may be starting to cool after months of resilience.
On Friday, markets will turn their attention to the January consumer price index, which is expected to play a critical role in shaping expectations for Federal Reserve policy. Investors will be looking for signs that inflation is easing sufficiently to give the Fed room to consider interest rate cuts later this year.
Gold firms, oil eases
In commodities, gold prices advanced during European trading hours, with silver also posting gains. Precious metals experienced sharp swings last week amid mixed safe-haven demand, profit-taking, and heightened uncertainty surrounding the U.S. interest rate outlook.
Meanwhile, crude oil prices edged lower, reflecting cautious sentiment as markets balance geopolitical developments with concerns over global demand and monetary policy direction.
As the week unfolds, U.S. markets are likely to remain highly sensitive to incoming economic data and earnings results, with volatility expected across equities, bonds, and commodities.
