US pre-open: Futures mixed following AI-fuelled sell-off
By Iain Gilbert
Date: Tuesday 28 Jan 2025
(Sharecast News) - Wall Street futures were mixed ahead of the bell on Tuesday following the previous session's heavy AI-fuelled sell-off.
As of 1230 GMT, Dow Jones futures were down 0.10%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.10% and 0.23% firmer, respectively.
The Dow closed 289.33 points lower on Monday, while the Nasdaq Composite shed 612.47 points amid a rout on semiconductor stocks.
Yesterday's sell-off was fuelled by fears regarding the emergence of Chinese startup DeepSeek and its greater implications for the artificial intelligence trade and the stratospheric valuation for some tech stocks. However, Nvidia shares were slightly higher in pre-market trading after the AI darling shed 17% on Monday, which resulted in it shedding almost $600.0bn from its market cap, the biggest single-day drop for a US company in history.
On the macro front, December durable goods orders will be out at 1330 GMT, while November's S&P/Case-Shiller housing price index was slated for release at 1400 GMT, and January consumer confidence figures and the Richmond Fed's manufacturing index will follow at 1500 GMT.
In the corporate space, carmaker GM beat Wall Street estimates and pointed to another year of strong earnings, while aeronautical giant Boeing reported its sixth-straight annual loss.
Reporting by Iain Gilbert at Sharecast.com
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