United States stock futures were little changed on Tuesday night (Wednesday AEDT), following a mixed session among major benchmarks in which investors rotated out of technology shares and into value sectors, pushing the Dow Jones Industrial Average to a record high.
By 10:35 am AEDT (11:35 pm GMT), futures tied to the Dow, S&P 500, and Nasdaq 100 were each trading within a narrow range of ±0.1%.
Tuesday’s session saw a broad rotation away from growth and AI-related names into more defensive parts of the market.
The Dow added 1.2% to finish at an all-time high, while the Nasdaq Composite slipped 0.3%. The S&P 500 eked out a modest gain of 0.2%, marking its third consecutive positive session.
Consumer staples and retail stocks such as Walmart, Home Depot, and McDonald’s helped lift the Dow, as investors sought lower-valued companies with limited exposure to the AI trade.
Health care also led sector gains, with Eli Lilly and Johnson & Johnson among the best performers.
By contrast, several prominent AI-linked stocks stumbled. Nvidia shares swung lower, reflecting unease over lofty valuations following the sector’s rapid rise this year.
Meanwhile, data from payroll processor ADP showed that private employers reduced staff in October, signalling potential weakness in the labour market.
The release drew heightened attention as the record-breaking U.S. government shutdown has paused several key economic data reports.
The political deadlock could soon ease, however, after the Senate passed a bill on Monday night to reopen the government.
The legislation now moves to the House of Representatives for a final vote, raising hopes that federal operations could resume by the end of the week.
