Last week was the worst of the year for the major U.S. averages, with the Nasdaq particularly weak. Index futures are higher today, with S&P 500 futures up 29 points, or 0.6%. Nasdaq futures are up 0.7%.
SPX daily
Eyes are on Tesla with shares down 3% premarket after further price cuts in the U.S. and China.
UBS downgraded stocks of six major technology companies – Apple, Amazon, Alphabet, Meta, Microsoft and Nvidia – from “overweight” to “neutral”.
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