5 Things to Know Before the Stock Market Opens
Stock futures moved lower on Friday, signaling another losing week as weakness spread through the AI-driven sector. Investors are closely watching Tesla after shareholders backed CEO Elon Musk’s immense compensation plan.
Market Overview
Major U.S. stock indexes are expected to end the week in decline. Futures linked to the Nasdaq 100 fell 0.4%, S&P 500 futures dropped 0.3%, and Dow Jones Industrial Average futures were also down 0.3%.
Tesla Shareholders Approve Musk’s Pay
Tesla shareholders gave overwhelming support to Elon Musk’s massive pay proposal, worth around a trillion dollars. This vote reinforced the CEO’s position but came amid a generally weak environment for high-growth tech assets.
Government Funding and Policy Moves
Senate Republicans announced plans to introduce a new funding package aimed at ending the ongoing government shutdown. The proposal is expected to face debate and could provide short-term stability to markets once voted on.
Crypto Market Activity
Bitcoin briefly fell below the 100,000-dollar mark this morning, continuing a downtrend to its lowest levels in months. The drop highlights growing investor caution around digital currencies.
Gaming Sector and Take-Two Interactive
Take-Two Interactive Software’s shares declined after another delay in releasing its highly anticipated title, Grand Theft Auto VI. The company’s repeated postponements have weighed on investor sentiment.
“Investors turned away from the AI trade this week, despite strong earnings from several technology firms.”
By Friday, the Nasdaq was down 2.8% for the week, the S&P 500 had dropped more than 1.7%, and the Dow Jones fell about 1.4%, marking a broad pullback across U.S. equities.
Author’s Summary
The week ends with declining stock futures, weakened tech momentum, Musk’s pay approval at Tesla, and volatility in crypto and gaming sectors shaping investor sentiment.