FX.co ★ US Stock Futures Edge Down

U.S. equity futures edged lower on Monday from their record highs, driven by declines in major tech giants, as concerns over the overvaluation of companies in the AI sector counterbalanced the prospects of strong economic growth and potential interest rate cuts from the Federal Reserve. The Nasdaq 100 and the S&P 500 were anticipated to open with slight losses, while the Dow hovered near the flatline. Futures for Tesla and Nvidia fell by more than 1% each, as the lack of immediate market drivers and thin holiday trading led investors to reassess whether the substantial AI investments in software and data center firms will yield the promised returns. Meanwhile, commodity producers continued to attract attention as speculative bets and geopolitical risks maintained volatility in raw material markets. Freeport-McMoRan saw a decline as benchmarks for silver and copper retreated from their record highs. In contrast, Chevron and ExxonMobil experienced gains as the U.S. blockade of Venezuelan tankers pushed oil prices higher.