Stock Market Update

The S&P 500 futures currently trade three points below fair value. 

There is a muted tone in the premarket this morning after a volatile week was capped by the major averages advancing over 2% on Friday. 

Six of the "magnificent seven" stocks are within 0.5% of their unchanged values in the premarket. Microsoft (MSFT 406.30, +5.16, +1.3%) is the exception, looking to take back more of the recent weakness that has seen the stock plummet nearly 17% since its earnings release on January 28.

The iShare Expanded Tech-Software ETF (IGV) is down 15% over the same time period amid increasing concerns that AI will disrupt the traditional software space.