U.S. Stock Futures Inch Higher as Investors Digest Ongoing Tech Selloff

U.S. stock futures were little changed late Monday, following another brutal week for tech stocks. The S&P 500 and Dow Jones Industrial Average both fell 1.5% last week, with the Nasdaq Composite dropping 3.1%.

Market Trends

The ongoing tech selloff has been a major concern for investors, with many tech stocks experiencing significant declines in recent weeks. The Nasdaq Composite has fallen 12.5% over the past month, while the S&P 500 has dropped 8.5%.

Investor Sentiment

Investor sentiment remains cautious, with many investors waiting for a clearer picture of the market's direction. The CBOE Volatility Index (VIX), which measures market volatility, has risen 25% over the past month.

Economic Indicators

The economic indicators are also pointing to a slowdown in the tech sector. The Institute for Supply Management (ISM) manufacturing index fell to 50.1 in January, down from 51.9 in December. The ISM services index also fell to 50.1, down from 51.2.

Conclusion

The ongoing tech selloff has left investors cautious, with many waiting for a clearer picture of the market's direction. The economic indicators are also pointing to a slowdown in the tech sector.

Sources

[1] U.S. stock futures inch higher as investors digest ongoing tech selloff