U.S. stock futures were mostly flat Tuesday night after a session that saw investors pull back from tech names and move into more defensive sectors.
Futures tied to the Dow Jones Industrial Average added just 3 points, while S&P 500 and Nasdaq 100 futures inched up less than 0.1%.
During the session, the Dow surged over 550 points to close at a record high, powered by consumer giants like Walmart, Home Depot, and McDonald’s. Meanwhile, the Nasdaq Composite slipped, and the S&P 500 marked its third straight gain.
Healthcare stocks led the rally, boosted by Eli Lilly and Johnson & Johnson, while major AI names such as Nvidia fell as investors questioned whether tech valuations have become overstretched.
“This is a very interesting rotation,” said Craig Johnson of Piper Sandler on CNBC, noting that traders are shifting away from overheated sectors.
Investors also digested an ADP report showing private employers cut payrolls in October, raising concerns about labor weakness. The data comes amid a government shutdown that has delayed several key economic reports, though a Senate-approved spending bill could reopen the government by week’s end.
