S&P Futures declined on Tuesday as market participants braced for the forthcoming jobs report for November. Futures associated with the Dow Jones Industrial Average declined by 23 points, representing a decrease of 0.1%. S&P 500 futures experienced a decline of 0.1%, whereas Nasdaq 100 futures fell by 0.2%.

The three primary U.S. indexes concluded Monday’s trading session in negative territory, influenced by declines in significant artificial intelligence stocks. Broadcom experienced a decline of 5.6% during Monday’s session, while software company ServiceNow saw a significant drop of 11.5%, and Oracle recorded a decrease of 2.7%. Microsoft shares concluded the session on a downward trajectory as investors persisted in realizing gains from the previously soaring AI trades, reallocating their capital into alternative sectors such as health care and utilities. The U.S. stock market continues to trend towards a successful year, exhibiting gains across all eleven sectors of the S&P 500.

“I think for the next four to six months, there is some runway here when you look at the real economy corners of the market,” Chris Verrone stated on Monday. “The groups that I believe are beginning to show a change in direction have indicated this to us,” he added. “Where have we observed the new high expansion? Industrials, financials, discretionary, materials. This exhibits a tangible economic essence.

November’s jobs report, set to be released Tuesday morning, may serve as a catalyst for stock movements. Economists surveyed by Dow Jones anticipate that nonfarm payrolls increased by 45,000, a significant decline from the 119,000 jobs added in September. The unemployment rate is projected to be 4.5%, a slight increase from the 4.4% recorded in September. The retail sales report for October is forthcoming. The consumer price index for November is set to be published on Thursday.