US pre-open: Futures ease after tech‑led rebound
By Iain Gilbert
Date: Tuesday 25 Nov 2025
(Sharecast News) - Wall Street futures were in the red ahead of the bell on Tuesday, as markets paused for breath after Alphabet and Broadcom's surge lifted sentiment in the previous session.
As of 1230 GMT, Dow Jones futures were down 0.12%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.19% and 0.34% lower, respectively.
The Dow closed 202.86 points higher on Monday, with major indices rising for the second straight day, as a decent rebound in the AI sector helped to repair some of the damage done by the recent tech-fuelled sell-off.
Alphabet stood out among the so‑called "Magnificent Seven" on Monday, closing more than 6% higher on the session, while Broadcom was the biggest gainer in the S&P 500, surging over 11%, as investors rallied behind both companies, linked through their high‑performance ASIC chip businesses.
The moves came as US equities attempted a modest recovery from last week's heavy sell‑off, though all three major indices were still on track for a losing month as AI‑linked stocks, which have driven much of this year's advance, were under increased scrutiny as traders weigh the prospects of a year‑end rally.
Markets have now priced-in more than an 80% chance of a quarter‑point cut from the Federal Reserve in December, as expectations rose sharply after New York Fed president John Williams said there was scope to lower rates "in the near term", and San Francisco Fed president Mary Daly told the Wall Street Journal she supported easing policy due to labour market concerns.
Rostro's Joshua Mahony said: "US tech stocks have enjoyed a strong start to the week, with Alphabet particularly in the limelight after soaring into fresh highs. The release of Gemini 3 has been greeted with optimism, and comments from Salesforce CEO Marc Benioff that he is moving across from ChatGPT highlights the perceived quality of the product. Meanwhile, the $4.3bn Berkshire Hathaway acquisition of Alphabet shares stands out as an anomaly given Warren Buffett's focus on value.
"Coming at a time when markets have been widely questioning the valuations and multiples paid for AI stocks, the decision from Berkshire Hathaway to load up on Alphabet shares does provide confidence for many that it will emerge as one of the winners despite the elevated investments seen in this build out phase. Finally, with Meta rumoured to be in talks to spend billions on Google chips, the gains expected from Alphabet today look to be coming at the expense of Nvidia."
On the macro front, September's producer price index and retail sales figures will be released at 1330 GMT, while September's S&P/Case-Shiller home price index was slated for release at 1400 GMT, and August business inventories, October pending home sales, November consumer confidence figures and this month's Richmond Fed manufacturing index will follow at 1500 GMT.
In the corporate space, Dick's Sporting Goods, Best Buy and Kohl's will report earnings before the open, while Dell Technologies, HP and Urban Outfitters were all slated to publish their latest quarterly earnings reports after the close.
Reporting by Iain Gilbert at Sharecast.com
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