U.S. stock futures were slipping Tuesday, with investors opting to take some profit following seven straight days of gains for the benchmark S&P 500.
Futures tracking the Dow Jones Industrial Average fell 100 points, or 0.2%. S&P 500 futures and contracts tied to the tech-heavy Nasdaq 100 were each down 0.1%, after the gauges each notched record closing highs on Monday.
The yield on the 10-year Treasury note ticked up 2 basis points to 4.17%. The U.S. dollar climbed 0.2% against a weighted basket of its peers, and the most actively-traded gold contract was down 0.1%, having topped $4,000 an ounce for the first time ever overnight.
Wall Street looked set to take a breather following a sustained AI rally, which took a leg higher on Monday after chip maker Advanced Micro Devices and ChatGPT developer OpenAI announced a long-term deal.
At the same time, so-called safe havens such as gold have been benefiting from uncertainty about the ongoing government shutdown, now entering its seventh day.
The Senate failed on Monday to pass a Republican bill that would extend government funding and reopen operations by a vote of 52-42. There’s a 67% chance that the impasse drags on beyond Oct. 15, according to the online prediction market Polymarket.
