Stock futures are little changed after S&P 500 posts back-to-back losses: Live updates – CNBC
Traders work at the New York Stock Exchange on Dec. 30, 2025.
NYSE
The S&P 500 fell modestly on Tuesday, notching a third consecutive losing session.
The broad market S&P 500 lost 0.14% and closed at 6,896.24, while the Nasdaq Composite slipped 0.24% and settled at 23,419.08. The Dow Jones Industrial Average shed 94.87 points, or 0.20%, and ended at 48,367.06.
The three major averages have slumped to start the week, dragged down by losses in tech. Nvidia posted back-to-back losing sessions, as did fellow AI play Palantir Technologies.
That said, those names — and others in the trade such as Advanced Micro Devices — have still been big winners this year. Nvidia has risen 39% in the period, while Palantir and AMD have surged 139% and 78%, respectively.
Gains in AI should be poised to continue in the new year, according to Bill Northey of U.S. Bank Asset Management, who cited the fundamentals underlying the technology and data center buildout.
“The clear early beneficiaries to this have been more the picks-and-shovels components, where we’re looking at semiconductors and the main primary feed stocks into the buildout,” he said. “We believe that as we move into 2026, it may actually be more the beneficiaries of the application of artificial intelligence who begin to see some of those productivity gains and see corporate earnings acceleration.”
“We do believe that there is some opportunity for broadening that exists in 2026 where we have had some relatively narrow leadership through the course of this year,” he added.
Elsewhere, the release of the Federal Reserve’s December meeting minutes showed that policymakers were in a tight split over the quarter percentage point rate cut handed down earlier this month. There was also discussion around how aggressive the Fed should be on rates going forward.
“With respect to the extent and timing of additional adjustments to the target range for the federal funds rate, some participants suggested that, under their economic outlooks, it would likely be appropriate to keep the target range unchanged for some time after a lowering of the range at this meeting,” the minutes said.
—CNBC’s Jeff Cox contributed to this report.
