FX.co ★ US Futures Steady After Losing Week

US stock futures were largely unchanged on Monday after a week of losses on Wall Street, attributed to a cooling of the AI rally and an increasingly ambiguous outlook for Federal Reserve interest rates. Over the past week, the S&P 500 and Nasdaq Composite saw declines of 0.31% and 0.65%, respectively, while the Dow Jones Industrial Average slightly decreased by 0.15%. Nvidia’s substantial $100 billion deal with OpenAI sparked questions about the long-term sustainability of the AI infrastructure surge. In addition, stronger-than-anticipated data from the US tempered expectations for significant Fed rate cuts, highlighted by jobless claims falling short of forecasts and a revision of the second-quarter GDP growth to 3.8%. Investors are now focusing on Friday’s release of the September nonfarm payrolls report for new insights into the labor market. Despite the setbacks, all three major indexes are poised to end September with gains, with the Dow rising 1.5% so far this month, the S&P 500 increasing by 2.8%, and the Nasdaq advancing by 4.8%.