Dow Jones Today: Stock Futures Point to Declines After 9 Straight Days of Gains for Major Indexes

Stock futures are pointing to a lower open on Monday at the start of another busy week of earnings reports, as investors await the Federal Reserve’s decision on interest rates in a few days.

Futures tied to the S&P 500 and tech-heavy Nasdaq were recently down 0.9% and 1%, respectively, while those linked to the Dow Jones Industrial Average slipped 0.6%. The S&P 500 and Dow are riding nine-session winning streaks, as sentiment has been boosted by generally strong quarterly results from major companies and optimism that the Trump administration could soften its stance on tariffs.

The recent winning run is the longest since 2004, as the S&P 500 has recouped all of the losses posted after President Trump’s “Liberation Day” announcement on April 2 of steep tariffs on major trading partners, notably China. While investors are hopeful that the White House will reach deals to scale back tariffs, concerns persist about the impact that the import taxes could have on the economy and corporate profits.

Investors will be squarely focused this week on the two-day meeting of the Fed’s policy committee, which is due to start tomorrow. Trump has urged Fed Chair Jerome Powell to cut rates, while the central bank has said it needs more clarity on how the tariffs are feeding through the economy before adjusting policy.

Shares of the world’s largest technology companies were down across the board in pre-market trading Monday. Microsoft (MSFT), Apple (AAPL), Nvidia (NVDA), Amazon (AMZN), Alphabet (GOOG), Meta Platforms (META), Tesla (TSLA) and Broadcom (AVGO) were each down about 1%.

Palantir (PLTR) shares were holding steady this morning ahead of the scheduled release after today’s closing bell of the AI software firm’s earnings report.

Berkshire Hathaway (BRK.B) shares were down nearly 3% after Warren Buffett announced on Saturday that he would be stepping down as CEO after six decades at the helm of the company.

Shares of Chevron (CVX) and Exxon Mobil (XOM) were each down about 1% as the price of crude oil continues to slide. West Texas Intermediate futures, the U.S. crude oil benchmark, were down 2.1% to $57.05 per barrel, trading at their lowest levels since early 2021.

Gold miners were gaining ground—Newmont Mining (NEM) and Barrick Gold (GOLD) each rose about 3%—as the price of the precious metal rose. Gold futures were recently up 2.6% at $3,320 an ounce.

The yield on the 10-year Treasury note, which affects borrowing costs on all sorts of loans, notably mortgages, was holding steady this morning at 4.32%. The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, fell 0.5% to 99.50.

Bitcoin was at $94,300, after trading as high as $98,000 on Friday, its highest level since late-February.