US stock futures are mixed, with S&P futures soft and Nasdaq futures slightly higher. Trading is expected to remain mixed today against a backdrop of lower oil prices and falling long-term yields. Midterm elections and the direction of AI investment will be the market's focus.
In the US stock futures market, S&P 500 futures were at 7,566.25, down 8.25, Nasdaq 100 futures were at 28,146.25, up 18.75, and NY Dow futures were reported down $194. With oil prices falling and long-term yields also declining, trading is expected to remain mixed.
The three major US indexes finished mixed in the previous session. The Dow rebounded, gaining $213, while the S&P and Nasdaq lost momentum in the latter part of trading and fell for a third straight day. Oil prices plunged after reports that President Trump denied plans to attack Iran after the midterm elections and that Iran's supreme leader had authorized negotiations, while long-term yields also declined.
For today's outlook, buying may emerge on lower oil prices and interest rates. The stronger-than-expected ISM manufacturing index could provide a positive catalyst. However, buying back major technology stocks is expected to be limited by Apple's decline in revenue and concerns over the profitability of AI-related businesses.
Markets may also remain focused on the outcome of the midterm elections, and some expect limited activity.