Dow, S&P 500, Nasdaq futures slip after Dow's 50,000 rally as jobs, inflation reports loom

US stock futures edged lower on Monday after a turbulent week that ended with the Dow above 50,000, as markets got set for a busy stretch of earnings, inflation data, and the crucial monthly jobs report.

Dow Jones Industrial Average futures (YM=F) crept into the red, but the blue-chip benchmark was still poised to hold above its milestone. Meanwhile, S&P 500 futures (ES=F) nudged down 0.1%, while those on the tech-heavy Nasdaq 100 (NQ=F) fell roughly 0.3%.

The moves hint at lingering tech unease as Wall Street continues to debate the AI disruption risk to legacy software companies. Despite stocks’ roaring rally on Friday, the Nasdaq (^IXIC) booked its fourth weekly loss thanks to the heavy tech-led sell-off.

Elsewhere, China is said to have urged its banks to pare their holdings of US bonds. The benchmark 10-year Treasury yield (^TNX) rose to around 4.23% on the Bloomberg report, while the dollar (DX-Y.NYB) stepped lower.

On the US side, Treasury Secretary Scott Bessent has blamed “unruly” trading in China for last week’s wild swings in gold (GC=F). Futures for the precious metal climbed above $5,000 an ounce on Monday as dip-buyers returned.

Overall, markets are watching and waiting as they head into a week bringing the January jobs report on Wednesday, postponed from Friday due to the partial US shutdown. The focus is on further signs of cracks in the labor market after ADP’s private-sector payrolls update last week fell short.

Also in focus is January’s consumer price index report, scheduled for Friday after its own delay.

The two readings will likely shape expectations for the path of interest rates from the Federal Reserve. But those calculations may need to account for how the central bank’s policy could evolve under Kevin Warsh, the former Fed governor and policy hawk backed by President Trump to succeed Chair Jerome Powell.

On the earnings front, reports from Coca-Cola (KO), McDonald’s (MCD), Cisco (CSCO), and ON Semiconductor (ON) highlight the week.

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STMicroelectronics announces multibillion-dollar deal with Amazon, stock surges 8%

STMicroelectronics (STM) said Monday that it expanded its partnership with Amazon (AMZN) through a multiyear, multibillion-dollar contract, sending shares of the chip manufacturer and designer up about 8% in premarket trading.

Under the agreement, ST will supply Amazon Web Services with chips and other technologies for its data centers. The move demonstrates ST’s push into the artificial intelligence market, lessening its reliance on other chip end uses, such as electric vehicles.

“This strategic engagement establishes ST as an important supplier to AWS and validates the strength of our innovation, proprietary technology portfolio, and proven manufacturing-at-scale capabilities,” ST CEO Jean-Marc Chery said. “Our advanced semiconductor solutions will directly power AWS’s next-generation infrastructure, enabling their customers to push the boundaries of AI, high-performance computing, and digital connectivity.”

The deal comes after Amazon, like the other hyperscalers, said it plans to spend billions more on the artificial intelligence infrastructure build-out. Last Thursday, Amazon forecast it would spend $200 billion on capital expenditures, a massive increase from its $125 billion spending plans in 2025.

Amazon stock was down fractionally in premarket trading.
Monday.com stock drops 15% on guidance miss

Monday.com (MNDY) stock got crushed in premarket trading after the software company’s first quarter financial guidance fell short of expectations. It’s the latest tough break for the shares, down 15% ahead of the opening bell, as the company has gotten swept up in the sell-off that punished software names.

In the fourth quarter, Monday.com reported adjusted earnings per share of $1.04, beating estimates of $0.92. Revenue grew 25% year over year to $333.9 million, also beating expectations of $329.6 million, according to S&P Global Market Intelligence consensus estimates.

However, the company’s first quarter revenue guidance of $338 million to $340 million came in below expectations of $342 million. Operating income is expected in a range of $37 million to $39 million, compared to the $45 million the Street was expecting.

The stock recently faced significant losses amid a sell-off in software stocks, as investors questioned whether the disruption from artificial intelligence could take a bigger bite out of these companies’ businesses than previously expected. Year to date, Monday.com stock is down 33%.
Premarket trenders: Kroger, Hims and Hers, and Strategy

Kroger (KR) stock rose 5% before the bell following reports that ex-Walmart executive Greg Foran would be the supermarket’s next CEO.

Hims and Hers (HIMS) stock sank 18% during premarket hours on Monday following the withdrawal of its $49 copy of a weight-loss pill after legal threats from Novo Nordisk (NVO) and a potential investigation from the US Food and Drug Administration.

Strategy (MSTR) shares fell 4% before the bell as bitcoin again dipped below $70,000. Strategy is one of the largest corporate holders of bitcoin, and its stock is currently down 14% over the last month following bitcoin’s decline.
Novo Nordisk surges as Hims pulls $49 weight loss pill under FDA pressure

Novo Nordisk (NVO) stock rose 6% before the bell on Monday after Hims & Hers (HIMS) scrapped the launch of its $49 copy of a weight-loss pill following legal threats from the Danish group and a potential investigation from the US Food and Drug Administration.

Shares of Hims (HIMS) fell nearly 15% in premarket trading on Monday.

Novo’s stock faced pressure recently after rival Eli Lilly’s shares rallied last week following the release of its fourth quarter earnings, and it now expects 2026 revenue to grow, compared to Novo, which said it expected sales to fall this year.

Yahoo Finance’s Jake Conley reported:

Reuters reports:

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Bitcoin dips below $70,000 after wild roller-coaster ride

Bitcoin (BTC-USD) fell below $70,000 on Monday following a week of wild swings for the world’s largest cryptocurrency.

Bloomberg News reports:

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Gold advances above $5,000 as dip-buyers return to choppy market

Gold (GC=F) rose above $5,000 an ounce on Monday as dip-buyers returned following a volatile week for precious metals.

Bloomberg news reports:

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QuantumScape jumps after the launch of its battery production factory Eagle Line

QuantumScape stock rose 14% before the bell on Monday after launching its “Eagle Line” in San Jose, a high-tech pilot factory designed to mass-produce its battery parts.

Simply Wall Street reports:

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Japanese PM election leads to Nikkei 225 surge

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Oil price falls with easing tensions removing supply pressure

Bloomberg reports:

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