Stock Futures Point to Lower Open After Yesterday’s Big Gains

Stock futures are down slightly Tuesday as the market takes a breather after kicking off the week with a big rally.

Futures tied to the S&P 500 and the tech-heavy Nasdaq were down 0.2% and 0.4%, respectively, in recent trading, while Dow Jones Industrial Average futures hovered near unchanged. The major indexes closed sharply higher on Monday led by huge gains for technology stocks—the Nasdaq gained 2.3%—as investors responded to developments in Washington D.C. over the weekend that indicated the federal government shutdown could end soon.

Late Monday, the Senate narrowly approved legislation to fund the government and end the shutdown, which is now in its 42nd day. The measure now heads to the House of Representatives, which is due to vote on it later this week, and President Donald Trump has said he would sign the bill.

Shares of the world’s largest technology companies, which have an outsized influence on the broader market, were under pressure this morning. Nvidia (NVDA) stock fell about 2% in premarket trading, after surging nearly 6% on Monday, while Microsoft (MSFT), Alphabet (GOOG), Amazon (AMZN), Meta Platforms (META) and Tesla (TSLA) also lost ground. Apple (AAPL) was the only member of the Magnificent Seven in the green this morning, rising fractionally.

CoreWeave (CRWV) shares were down more than 10% this morning after the cloud computing company issued weak guidance last night. Traders had been pricing in a big post-earnings stock price move for the Nvidia-backed company.

Shares of Rocket Lab (RKLB) jumped nearly 10% after the aerospace company released its quarterly results.

Gold futures were up 0.6% at $4,145 per ounce, adding to the previous session’s big gains and trading at their highest levels in nearly three weeks.

Bitcoin was at $105,000, giving back its early-week gains and down from an overnight high of above $107,000. The U.S. dollar index, which tracks the performance of the dollar against a basket of foreign currencies, was holding steady at 99.55.

The bond market is closed on Tuesday for the Veterans Day federal holiday.