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Stock futures are little changed after S&P 500 snaps nine-week win streak: Live updates – CNBC

U.S. stock futures were little changed Sunday night after major averages started 2024 on a down week as traders focused on next week's inflation data and big bank earnings.

Dow Jones Industrial Average futures fell 38 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures rose 0.02% and 0.05%, respectively.

Wall Street is coming off its worst week in a decade as large tech stocks such as Apple underperformed and U.S. Treasury yields rose. For the week, the Dow Jones Industrial Average fell 1.5%, and the S&P 500 fell 0.6%. The tech-heavy Nasdaq Composite Index fell 3.25%, its worst weekly performance since September.

Apple stock fell about 6% last week. The 10-year US Treasury yield has risen again to above 4%.

After a year-end bull run following a dovish U.S. Federal Reserve policy shift, markets have been firmer as investors worry that stocks are overbought. Ta. Those concerns were fueled by a strong December jobs report and this week's Fed meeting minutes, which showed increased uncertainty over the path to rate cuts.

“I think attitudes are probably getting a little too heated,” Chris Verrone, head of macro and technical research at Strategas, said in a note Friday. “This may need to be addressed with some consolidation or modification in the first quarter.”

Still, Bellone added, “But generally speaking, the trends are positive and there is momentum in this market.”

This week, traders will get more clarity on the central bank's path to rate cuts. The December consumer price index will be released on Thursday and the producer price index will be released on Friday, which will show whether the Fed's efforts to bring inflation down to 2% are taking hold.

The latest corporate earnings season kicks off on Friday with earnings releases from major banks Bank of America, Citigroup, JPMorgan Chase and Wells Fargo. Dow component UnitedHealth also reported. Blackrock and Delta Air Lines results are also on deck.

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