Futures tied to the major U.S. equity benchmarks pointed lower, signalling a cautious start to the trading week as investors awaited a heavy slate of economic releases, led by a long-delayed labour market report.

US stock futures traded mixed on Friday after Wall Street’s rotation from tech into value and cyclical names propelled the Dow and S&P 500 to new records. Wall Street is looking to end the week on a high note,

NVIDIA Corporation (NASDAQ: NVDA) bucked the trend, rising 0.7% after JPMorgan suggested that recent declines in the stock presented a buying opportunity. But the stock lost momentum in after-hours trade, given that it is at the heart of an AI-fueled valuation boom and is vulnerable to profit-taking.

Dow futures declined over 100 points on Thursday as Oracle’s results reignited fears about high-flying tech stocks. The futures tied to other Wall Street indices like the S&P 500 and Nasdaq were also trading in red even after the Federal Reserve’s latest interest rate cut gave a boost to US equity markets on Wednesday.

While Fed Chair Jerome Powell did outline a higher bar for future rate cuts, he also announced that the central bank will immediately begin buying short-dated government bonds to boost market liquidity levels. The Fed will initially buy about $40 billion of Treasury bills per month.

The firm posted a 46% slip in profit in the third quarter, weighed down by sticky inflation which has dented the affordability of the American housing market. Despite a renewed Fed rate-cutting cycle, U.S. government bond yields have also remained relatively elevated, keeping some upward pressure on mortgage rates.

Futures on the Dow Jones are down over 220 points, those on the S&P 500 are down 65 points, while Nasdaq futures are down nearly 400 points.

US stock futures fell early Monday, with the Dow down 191 points, the S&P 500 off 37 points, and the Nasdaq lower by 171.50 points as yields hovered near 4.04%. NIO dropped 4%, Nvidia slipped 1.05%, and crypto miners tumbled.

Wall Street futures were in negative territory after major North American markets closed in the red yesterday. Dow futures were down 0.17 per cent, S&P 500 futures declined 0.36 per cent and Nasdaq futures were 0.57 per cent lower as of 4 a.m. ET.