Europe Asia News

As investors also prepared for a series of U.S. economic data reports due this week, Dow Jones Industrial Average futures edged lower. Futures tied to the S&P 500 fell 0.1%, while Nasdaq-100 futures slipped 0.2%.

These moves followed last week’s declines in the S&P 500 and Nasdaq Composite, as Oracle and Broadcom led a pullback from artificial intelligence-related stocks. The S&P 500 fell 0.6% last week and the Nasdaq dropped 1.7%. The Dow, which has less exposure to technology and AI than the other two indexes, rose 1.1%.

Oracle shares fell 12.7% on a weekly basis, while Broadcom lost more than 7%. The S&P 500 technology sector declined 2.3%.

According to analysts, the “Magnificent Seven” in the S&P 500 may not be so magnificent in 2026, as fierce competition in the AI race begins to erode their dominance, making the likely winners the S&P 500’s “Impressive 493.”

Economic data reports next week could determine market direction. November nonfarm payrolls and October retail sales figures will be released on Tuesday, after being delayed due to the U.S. government shutdown in the fall. The November consumer price index will be released on Thursday.