Pre-market futures declined Monday despite gold surging to $4,602 and cryptocurrencies rallying on U.S. Treasury buyback expectations.
Gold prices climbed to $4,602 while cryptocurrencies rallied Monday, driven by U.S. Treasury buyback plans. However, pre-market stock futures traded lower as markets entered the final week of August.
Friday saw a risk-on rebound, with the Dow Jones Industrials rising 0.98% to 53,277 and the S&P 500 gaining 0.43% to 7,674. The Nasdaq also closed higher, though futures suggested a cautious start to the week.
Analyst actions included Baird downgrading Chipotle Mexican Grill (CMG) and Domino’s Pizza (DPZ) to Neutral, while UBS upgraded Celestica (CLS) to Buy with a raised target of $430 from $410.