Dow, S&P 500, Nasdaq futures fall as Wall Street waits for latest key earnings tests

US stock futures fell Monday evening after a mixed session on Wall Street that saw AI optimism drive the S&P 500 and Nasdaq Composite higher.

Dow Jones Industrial Average futures (YM=F) slipped about 0.1%. S&P 500 futures (ES=F) edged down 0.2% and Nasdaq 100 futures (NQ=F) dropped 0.4%.

AI-heavy tech names once again fueled gains on Monday. Amazon notched a record close after announcing a new partnership with OpenAI, helping the Nasdaq (^IXIC) advance nearly 0.5%. The S&P 500 (^GSPC) rose roughly 0.2%, while the Dow (^DJI) fell about 0.5%.

Strong Q3 results and elevated AI spending from major cloud players continue to underpin investor confidence. The “Magnificent Seven” stocks remain market drivers, though their performance has grown uneven with the indexes they are part of as an increasing amount of companies from major gauges are reporting in the red.

Palantir (PLTR) dropped more than 4% in extended trading despite the AI-military firm topping third-quarter estimates as analysts argue the stock price is overinflated.

Looking ahead to the rest of earnings season, another 100-plus reports are due this week. Tuesday is highlighted by AMD (AMD), along with Uber (UBER), Spotify (SPOT) and SuperMicro (SMCI).

Investors are also keeping their eyes on Washington. The US government shutdown continues to delay key economic data, including the jobs report that was slated for release this week.

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