From Investor's Business Daily · ED CARSON · · 1m 10s
AI slowdown talk knocks tech futures
Futures slipped Sunday night after AI leaders called for easing off model development, with the Fed meeting still ahead.
In brief
Futures slipped Sunday night after AI leaders called for easing off model development, with the Fed meeting still ahead. A call from AI leaders to slow model development hit tech futures hardest, and the Fed meeting is the next thing that moves the tape. Originally reported by Investor's Business Daily.
Futures open in the red
Dow Jones, S&P 500 and Nasdaq futures all fell Sunday evening, setting up a soft start to the week.
“Dow Jones futures fell Sunday evening, along with S&P 500 futures and especially Nasdaq futures.”
Nasdaq takes the worst of it
The drop was steepest in Nasdaq futures, the contract most loaded with big tech and AI names.
AI leaders ask for a pause
Artificial intelligence leaders publicly called for slowing model development, and that put AI stocks squarely in focus.
“AI stocks are in focus after artificial intelligence leaders called for slowing AI model development.”
Oil and yields matter too
Crude oil prices and Treasury yields are the other two inputs traders are watching alongside the AI story.
The Fed is up next
An upcoming Federal Reserve meeting hangs over the week and could override whatever the AI headlines do to sentiment.
Friday already showed a bounce
Stocks fell through last week, then rebounded Friday on strength from names like Apple, Moderna and NetApp.
“The stock market fell last week, but rebounded Friday”
The key point
A call from AI leaders to slow model development hit tech futures hardest, and the Fed meeting is the next thing that moves the tape.
