U.S. Stock Market Navigates Volatility: Futures Point Higher After Tech Sell-Off, Key Economic Data Ahead

Core Viewpoint - The U.S. stock market is stabilizing after a tech-led sell-off, with investors focusing on futures movements, economic data, and corporate news amid concerns about AI stock valuations and Federal Reserve interest rate policy [1]. Premarket Activity and Futures Movements - U.S. stock futures are trending higher, indicating a potential rebound after Thursday's declines, with Nasdaq 100 futures up 0.17%, S&P 500 futures up 0.31%, and Dow Jones Industrial Average futures up 0.43% [2]. Major Market Indexes - Major U.S. indexes experienced significant losses on Thursday, with the Nasdaq Composite down 2.15%, S&P 500 down 1.56%, and Dow Jones down 0.84%, marking a 2.25-month low for the S&P 500 and a 5-week low for the Dow [4]. Upcoming Market Events and Economic Data - Key economic data releases on November 21 include Johnson/Redbook Weekly Sales, NAHB Housing Market Index, Net Long-term TIC Flows, and preliminary Manufacturing and Services PMI data for various regions [6]. Federal Reserve Interest Rate Expectations - Market sentiment suggests a reduced likelihood of a rate cut in December, with only a 35% chance of a 25-basis-point cut, down from 63.8% a week prior [7]. Major Stock News and Corporate Announcements - Gap shares surged 5.6% due to strong comparable sales, while Intuit gained 3% after reporting strong fiscal results despite light guidance [9]. - Walmart's shares rose over 6% after raising its 2026 net sales forecast, and Regeneron Pharmaceuticals climbed over 4% following FDA approval for its drug [10]. - PACS Group saw a significant jump of over 55% after completing restatements, while Solventum rose over 2% after an acquisition [10][11]. Notable Declines in the Tech Sector - Nvidia shares fell 3.2% despite better-than-expected Q3 results, amid concerns over AI stock valuations, with other major tech stocks also closing lower [12]. - Bath & Body Works plummeted over 24% after missing Q3 sales expectations, and Jacobs Solutions fell over 10% due to disappointing revenue [13].