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S&P 500 and Nasdaq 100 futures declined 0.5 percent and 0.9 percent, respectively, while Dow futures lost 0.3 percent. Last week, the Dow fell 1.23 percent, the S&P 500 dropped 1.39 percent, and the Nasdaq Composite lost 2.1 percent. As a result, the Dow and S&P 500 posted losses for the fourth time in the past five weeks. The Nasdaq also closed negative for a fifth consecutive week, marking its longest losing streak since 2022.

Software companies were among the worst performers as increasingly sophisticated artificial intelligence tools such as Anthropic PBC’s Claude Cowork intensified concerns about structural pressure on traditional software business models.

In contrast, semiconductor stocks remained resilient, supported by expectations that the widespread adoption of artificial intelligence will sustain demand for high-performance computing and advanced chips.

These concerns appeared to overshadow the latest consumer price index data released on Friday. The headline CPI figures came in lower than economists surveyed by Dow Jones had expected for January.

Investors will gain further insight into the trajectory of inflation this week with the personal consumption expenditures data set to be released on Friday. Until then, they will monitor the Federal Reserve meeting minutes due on Wednesday.

Investors are also turning to a new round of corporate earnings for directional cues. Earnings reports from Walmart, Warner Bros. Discovery, Booking Holdings, Deere & Company, and Palo Alto Networks are expected this week.