Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures.
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The stock market rally generally retreated last week. The S&P 500 and Nasdaq hit fresh all-time highs on Friday before reversing lower in an outside day.
Nvidia (NVDA) was the clear culprit Friday, staging a bearish reversal after the AI chip leader had become historically extended. That reversal hit the broader market but especially fellow AI stocks like Advanced Micro Devices (AMD), Taiwan Semiconductor Manufacturing (TSM), Arm Holdings (ARM) and Super Micro Computer (SMCI).
Nvidia’s reversal — which continued Friday night — could be a blip or a character change after a massive run. It’s definitely a wake-up call for complacent and euphoric investors.
It’s a time to be careful and review your portfolio, especially if you have heavy exposure to AI plays.
