US stock futures dropped after a weak session on Wall Street amid pressure on Big Tech and ongoing US-Iran talks.
Futures attached to the Dow Jones Industrial Average (YM=F) slid 0.3%. Futures attached to the benchmark S&P 500 (ES=F) sank 0.9%. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) dived 1.7%.
Stocks mostly fell on Monday. SpaceX (SPCX) stock slid for the third day in a row as other Big Tech players also tumbled. In the background, ongoing negotiations between the US and Iran kept investors on edge even as officials reported progress.
On Tuesday, FedEx (FDX) and Cerebras Systems (CBRS) will report earnings. Cerebras System’s results will be the AI chip company’s first since going public in May.
The key events this week include Micron (MU) earnings on Wednesday and the release of May’s PCE report — the Federal Reserve’s preferred measure of inflation — on Thursday.
