Nasdaq Futures Slip Amid Tech Selloff While S&P 500, Dow Edge Higher Ahead Of Crucial Earnings Week: IREN, CRWV, NBIS, MRNA, EWZ In Focus

U.S. stock futures tracked mixed overnight late on Sunday, as last week's sharp selloff in technology stocks weighed on the Nasdaq even as markets brace for crucial earnings updates.

As of 10:20 p.m. EDT, Dow futures gained 0.22%, and S&P 500 futures were up 0.11%. Nasdaq-100 futures were down 0.02%.

On Friday, U.S. benchmark indexes closed lower. The Dow Jones Industrial Average shed more than 650 points to end 1.23% lower. The Nasdaq Composite was down 2.1% at close, while the S&P 500 fell 0.52%.

The Nasdaq and S&P 500 clocked two consecutive weeks of declines amid a widespread tech and AI selloff. However, the Dow Jones clocked three back-to-back weeks in the green.

Technology stocks sold off sharply last week amid growing concerns about the sustainability of artificial intelligence and debt woes.

Meanwhile, on the geopolitical front, even as relations between the U.S. and Iran remain fraught with challenges, U.S. President Donald Trump told reporters on Sunday that “there will not be a strike (on Iran) today,” easing fears of re-escalation.

Additionally, the U.S. Central Command said on X that the commander of CENTCOM, Brad Cooper, visited the Strait of Hormuz on Oct. 25, as U.S. forces have helped Gulf partners export more than 1.5 billion barrels of crude oil since summer.

CENTCOM also said it had helped more than 3,000 commercial vessels successfully transit the Strait over the last six months.

"Today, primary transit routes in the Strait of Hormuz remain free and clear of Iranian sea mines thanks to incredible efforts by our people," said Cooper. "We remain intensely focused on keeping commercial traffic flowing as we work with our teammates in the U.S. interagency, Gulf Cooperation Council, and shipping industry."

Oil prices pulled back from six-month highs overnight. Brent crude futures were trading at $114.85 a barrel, down 1.60%, while WTI crude futures traded nearly 2% lower at $101.28 per barrel.

Meanwhile, as election season takes off worldwide, Trump reaffirmed his endorsement of Benjamin Netanyahu in the lead-up to the Israeli elections. “To the people of Israel, to those who haven’t seen it, I am attaching the Endorsement I gave one week ago to your Prime Minister, Bibi Netanyahu,” he said in a post on Truth Social.

In Brazil, leftist President Luiz Inacio Lula da Silva defeated right-wing Senator Flavio Bolsonaro in a surprising turn of events, sending Brazilian stocks lower.