U.S. stock futures largely traded near the flatline Monday night as traders awaited a pivotal consumer inflation report.
S&P 500 futures were marginally higher, while futures tied to the Dow Jones Industrial Average were up 45 points. Nasdaq-100 futures added 0.2%.
During the regular trading day, the Dow Industrials gained 1,104 points, or 2.2%, while the S&P 500 popped about 2.4%. The Nasdaq Composite rose 2.7%. Monday's rally came after a rocky week for markets, in which traders grew concerned of an impending slowdown in data center buildouts after Democrats posted big victories in the midterm elections.
While the tech sector rebounded in Monday's regular trading, Nvidia sat out the rally.
Shares of the chipmaker slid 4% after Nvidia CEO Jensen Huang admitted on Sunday to having an affair with a woman who U.S. intelligence officials, according to The New York Times, say is a spy for China's Ministry of State Security. The company's board of directors also launched an independent internal investigation , pointing to recent reporting that Huang "has been the target of a foreign intelligence effort."
Oil prices also fell on Monday, lending the market support. The U.S. West Texas Intermediate futures settled down more than 4%, while Brent crude futures slid more than 5%.
Investors are awaiting the October consumer price index report due on Tuesday. Economists polled by Dow Jones see headline CPI growing at a rate of 0.3% and core CPI, which excludes volatile food and energy costs, rising 0.2% from the prior month.
This would mark a deceleration from September's readings, when headline CPI grew 0.6% and core CPI advanced 0.3%.
"We think the slowdown in core CPI will stem from a reversion of shelter prices, primarily owners' equivalent rents and lodging away from home. Similarly, the stabilization in diesel prices should help to quell price pressures in energy-intensive goods," wrote Christopher Hodge, chief economist of the U.S. at Natixis CIB Americas.
Annual figures will not be provided for Tuesday's report because of the 2025 government shutdown. At that time, the Bureau of Labor Statistics was unable to collect some data which means there isn't a comparable figure for the index.
Stock futures traded near the flatline on Monday.
S&P 500 futures gained just 0.07%, while Dow Jones Industrial Average futures rose 12 points, or 0.02%. Nasdaq-100 futures were up 0.19%.
