The S&P 500 lost 0.3% on Monday, as shares of big tech companies fell on various reports that heightened antitrust concerns. Lingering trade and growth concerns also helped curb risk sentiment and underpin the strength in U.S. Treasuries. A swarm of buyers in the last 30 minutes of action, however, helped the broader market close off its session lows.
The tech-sensitive Nasdaq Composite fell 1.6%. The blue-chip Dow Jones Industrial Average (+0.02%) finished fractionally higher, and the small-cap Russell 2000 increased 0.3%.
Facebook (FB 164.15, -13.32, -7.5%), Alphabet (GOOG 1036.23, -67.40, -6.1%), Amazon (AMZN 1692.69, -82.38, -4.6%), and Apple (AAPL 173.30, -1.77, -1.0%) were all singled out in various reports indicating that the companies could face antitrust scrutiny by the Department of Justice and/or Federal Trade Commission.
Equity futures after hours: S&P 500 futures +7 vs. Fair Value of 2,745; Nasdaq 100 futures +20 vs. Fair Value of 6,982.
Box (BOX) is down 10% after berating Q1 estimates but lowering FY20 revenue guidance
Coupa Software (COUP ) is up 4% after beating Q1 estimates and raising FY20 guidance.
Earnings expected tomorrow morning: CMD, CBRL, DCI, LE, NAV, TIF
April Factory Orders will be released at 10:00 ET (Briefing.com Consensus -0.9%)