Stock futures dropped on Monday, driven by losses in technology shares after the S&P 500 reached new record highs last week.
Futures Decline and Sector Performance
S&P 500 futures fell 0.4%, while Nasdaq-100 futures decreased by 0.6%. The Dow Jones Industrial Average futures dropped by 91 points, or 0.2%. Major tech stocks, including Nvidia, Micron Technology, and Oracle, saw declines following a solid week of gains.
Nvidia’s shares fell over 1%, while Micron and Oracle fell by more than 1% and 2%, respectively. However, in the past week, Nvidia increased over 5%, Micron rose around 7%, and Oracle gained about 3%.
Market Trends and Silver Prices
Silver prices pulled back about 6% after reaching $80 per ounce for the first time. This drop comes after a significant surge in 2025, with silver prices increasing nearly 150%, making it a key trade this year.
Last Friday, the S&P 500 recorded an intraday high of 6,945.77 but ended the session slightly below breakeven. In 2025, the index is up nearly 18%, while the Dow climbed 14.5% and is on track for its best year since 2021. The Nasdaq Composite has performed even better, rising over 22% year-to-date.
Upcoming Economic Insights
Wall Street is currently experiencing the Santa Claus rally, a historically strong period for stocks. Since 1950, the S&P 500 has averaged a gain of over 1% during the last five trading days of the year and the first two of the new year.
This week has a light economic data schedule, but investors expect insights into the Federal Reserve’s perspective heading into 2026. The Fed’s minutes from its December meeting will be released on Wednesday at 2 p.m. ET.
