Stock market today: Live updates

S&P 500 futures fell Monday night after a selloff in technology stocks weighed on the broad market index for the second session in a row.

Futures tied to the S&P 500 were down 0.23%, while Nasdaq 100 futures fell 0.45%. Dow Jones Industrial Average futures shed 51 points, or 0.10%.

Both the S&P 500 and Nasdaq Composite posted their second straight day of losses on Monday. The broad market index slipped 0.07%, while the technology-heavy Nasdaq closed 0.51% lower. The blue-chip Dow bucked the trend, adding 159.95 points, or 0.32%.

Memory chip stocks sold off on Monday, with Seagate tumbling after CEO Dave Mosley made comments at a JPMorgan conference that raised fears the company may have troubles meeting an artificial intelligence-driven surge in demand. He remarked that building new factories “would just take too long.” The stock dropped almost 7%, while peer Micron Technology fell close to 6% in sympathy. Other artificial intelligence-adjacent stocks also declined on Monday.

Monday’s losses come after stocks have rallied to new highs in recent weeks, with both the S&P 500 and Nasdaq hitting fresh record highs last week, while the Dow briefly recaptured the 50,000 level. However, Kevin Gordon, head of macro research and strategy at the Schwab Center for Financial Research, believes that the market rally has already seen its best days.

“From a positioning standpoint and how stretched things have gotten, probably means that you don’t see as sharp of the rallies that we were seeing certainly off the throes of the low in March,” he said on CNBC’s “Closing Bell: Overtime” on Monday afternoon.

In a Monday Truth Social post, President Donald Trump announced that he was calling off a plan to attack Iran on Tuesday after the heads of three regional powers in the Middle East asked him to “hold off.”

Home Depot, Eagle Materials and Amer Sports are set to report earnings before Tuesday’s opening bell. Traders will also watch out for April’s pending home sales reading.

— CNBC’s Kevin Breuninger contributed reporting.