Stock Market Update
18-Nov-25 09:20 ET
Futures point to lower open as AI trade meets resistance
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: -28.00. Nasdaq futures vs fair value: -137.00.
The stock market is on track for another lower opening this morning, with equity futures trading near their worst levels of the morning.
Tech and other AI-related names are under pressure after yesterday's action saw a further unwinding of recent momentum, pushing the major averages beneath their 50-day moving averages.
Alphabet (GOOG 288.89, +3.29, +1.2%) CEO Sundar Pichai told BBC News that the AI trade has "elements of irrationality," adding, "No company is going to be immune" if the artificial intelligence bubble bursts. Alphabet has been largely resilient to the recent pullback, with today's support coming from an upgrade to Buy from Hold at Loop Capital, with a price target of $320. It is the only "magnificent seven" name to holds a month-to-date gain in November (+1.3% MTD).
