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U.S. stock index futures pointed to a weaker open on Tuesday following the long holiday weekend, as renewed concerns over artificial intelligence–driven disruptions unsettled market confidence and investors closely monitored developments in nuclear talks between the United States and Iran.
At 08:36 a.m. ET, Dow Jones E-mini futures fell 95 points, or 0.19%, S&P 500 E-minis dropped 29 points, or 0.42%, and Nasdaq 100 E-minis slid 212.75 points, or 0.86%, with technology stocks leading the decline.
Wall Street is coming off its sharpest weekly selloff since mid-November, after fears that rapid advances in artificial intelligence could disrupt existing business models triggered heavy losses across software companies, brokerages, and trucking firms. Adding to the uncertainty, concerns have intensified around rising competition from Chinese AI developers. On Monday, Alibaba unveiled its new AI model, Qwen 3.5, which is designed to independently carry out complex tasks, further rattling investor sentiment.
Major U.S. technology stocks remained under pressure, with Nvidia down 1.1% and Microsoft slipping 0.7% in early trading.
Geopolitics and Fed Outlook in Focus
Geopolitical tensions also weighed on risk appetite after Iran’s supreme leader said U.S. efforts to overthrow his government would fail, as Washington and Tehran began indirect talks in Geneva aimed at resolving their long-standing nuclear dispute.
Meanwhile, investors are turning their attention to the upcoming U.S. personal consumption expenditures (PCE) price index, the Federal Reserve’s preferred inflation gauge, due later this week. The data is expected to offer fresh insight into inflation trends and could influence expectations for the central bank’s interest-rate path.
The release follows cooler-than-expected consumer inflation data last week, which slightly increased market expectations for rate cuts in 2026. According to CME Group’s FedWatch Tool, traders are now pricing in a 25-basis-point rate cut in June with a 52% probability, up from around 49% a week earlier.
Markets are also awaiting remarks later in the day from Federal Reserve Governor Michael Barr and San Francisco Fed President Mary Daly, which could provide additional clarity on policymakers’ views.
Corporate Movers and Earnings Update
The corporate earnings season is entering its final phase. Of the more than 73% of S&P 500 companies that have reported results so far, 74.5% have exceeded analysts’ expectations, well above the typical quarterly average of 67%, according to LSEG data released Friday.
In corporate news, Warner Bros rejected a revised takeover bid from Paramount, giving the bidder a week to improve its offer. Shares of Warner Bros rose 2.3%, while Paramount climbed 3.8%.
Several stocks saw sharp premarket moves on deal and activist-related news. Norwegian Cruise Line jumped 6% after the Wall Street Journal reported that activist investor Elliott Management has built a stake of more than 10% in the company. U.S.-listed shares of Zim Integrated Shipping surged roughly 35% after Germany’s Hapag-Lloyd agreed to acquire the firm for $4.2 billion.
Fiserv gained nearly 3.6% following reports that activist investor Jana Partners has taken a stake in the payments company. Masimo soared about 35% after Danaher announced plans to acquire the medical device maker for $9.9 billion, including debt, while Danaher shares fell 6%.
Looking ahead, investors will also keep an eye on Friday’s U.S. Supreme Court opinion day, when a ruling on President Donald Trump’s trade tariffs could be announced—an event that may carry broader implications for markets and global trade.
