Stock futures were little changed as the S&P 500 ended a six-month losing streak: Live Update

Traders work on the New York Stock Exchange trading floor during afternoon trading on February 5, 2024.

Michael M. Santiago

US stock futures were little changed late Monday after the S&P 500 ended a six-match losing streak, boosted by a rebound in technology stocks. Wall Street was also looking ahead to key earnings and economic data later this week.

Dow Jones Industrial Average Futures It is flat. S&P 500 Index Futures decreased by 0.01%, while Nasdaq 100 futures 0.1% less.

Investors took profits on Monday. 30 stocks Dow Chemical It closed up 0.67% S&P 500 Index increased by 0.87%, while Nasdaq Composite Index increased by 1.11%. Both the S&P 500 and Nasdaq ended six straight days of losses.

The moves come as investors buy dips after a sell-off in tech stocks such as tech stocks NvidiaThe currency has been battered recently amid concerns over rising inflation and the prospect of interest rates. Information technology was the best-performing sector in the S&P 500 on Monday. Nvidia gained more than 4% in the trading session. Shares of the chip giant fell nearly 14% last week, its worst weekly performance since September 2022.

“The short-term rebound in the market makes a lot of sense because we’ve had about a week and a half, so now when we get into technicals, we’re seeing a bit of a rebound,” Ayako Yoshioka, senior portfolio manager at Wealth Improvement Group, told CNBC’s “Last Hour” on Monday.

Traders are also bracing for large-cap earnings results this week, which will be the first Tesla Reported after the close on Tuesday. Electric car stocks have underperformed this year, falling more than 40% on concerns about increased competition from Chinese rivals. The meta platforms are scheduled to report results on Wednesday afternoon, with Alphabet and Microsoft to report on Thursday.

Yoshioka added: “I think earnings from Microsoft, Alphabet and Meta will be key in determining whether tech deals can continue to drive the market higher.”

On the economic front, investors will focus on new home sales data on Tuesday.