
Stock futures fell on Monday after the S&P 500 scaled to fresh record levels, with traders set to wrap up a strong 2025.
S&P 500 futures slipped 0.2%, while Nasdaq-100 futures slid 0.4%. Futures tied to the Dow Jones Industrial Average traded just below the flatline.
The artificial intelligence trade came under a bit of pressure in the premarket after key stocks posted solid weekly gains. Nvidia shares dropped more than 1%, as did Micron Technology and Oracle . In the last week, Nvidia rose more than 5%, while Micron and Oracle climbed around 7% and 3%, respectively.
Those moves come after the S&P 500 on Friday hit an intraday high of 6,945.77 before ending the session just below breakeven.
It has been a banner year on Wall Street, with the benchmark index up nearly 18% in 2025. The Dow has gained 14.5%, putting it on track for its strongest year since 2021. The Nasdaq Composite has outperformed year-to-date, up more than 22%.
Wall Street is also in the throes of the Santa Claus rally period, a historically strong time for the stock market. Since 1950, the S&P 500 has averaged a gain of more than 1% between the last five trading days of the year and the first two of the new year, according to the Stock Trader's Almanac.
The economic data calendar is light for the week, but investors will get one more read into the Federal Reserve's mindset heading into 2026. The central bank's minutes from its December meeting are due for release on Wednesday at 2 p.m. ET.
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