24.08.202612:49:40UTC+00US Futures Inch Down

US equity index futures extended last week’s losses on Monday, dragged lower by weakness in technology shares and a worsening macroeconomic backdrop. S&P 500 futures slipped 0.3%, Nasdaq futures fell 1%, and Dow futures edged slightly lower. Oil prices eased but stayed elevated after the US vowed to further isolate Iran economically, reinforcing concerns about stubborn inflation as higher energy costs compound the impact of large fiscal deficits and renewed Treasury bond buybacks.

AI infrastructure names led declines amid ongoing uncertainty about the sector’s long-term returns. Enthusiasm over upcoming IPOs from LLM developers helped temper worries that capital spending on chips has overshot sustainable demand, but sentiment remained fragile. Micron, Marvell, and Sandisk were down between 3.5% and 5% in premarket trading. Nvidia traded roughly flat ahead of its earnings report due after Wednesday’s close, seen as the next key catalyst for the AI trade.