U.S. Stock Futures Signal Further Declines for Nasdaq, S&P 500

UPDATE: U.S. stock futures are signaling another day of declines as the Nasdaq and S&P 500 continue their downward trajectory. As of 2:23 a.m. ET on November 18, 2025, Nasdaq futures indicate a drop of nearly 1%, while the S&P 500 and Russell 2000 are projected to fall 0.69% and 0.89% respectively.

This comes after a troubling three-day slump in the markets, raising concerns among investors as the tech sector remains under pressure. Despite 82% of S&P 500 companies reporting an earnings-per-share (EPS) surprise, negative outlooks are overshadowing positive news. This volatile environment is alarming as traders brace for key earnings reports and data releases this week.

One critical event is the highly-anticipated earnings report from Nvidia, set to be released tomorrow. As the largest AI firm globally, Nvidia’s results could provide insight into the health of the AI sector amid rising investor anxiety.

Meanwhile, the cryptocurrency market is also flashing warning signs. Bitcoin recently plunged below $90,000, indicating potential instability that could impact speculative trading behaviors across markets. This decline in crypto values is already spilling over into tech stocks and other speculative assets, raising alarms for retail investors.

Additionally, the ongoing Trump tariff case has reached the Supreme Court, prompting skepticism even from conservative justices. This legal battle could introduce unexpected changes in trade policies that impact market sentiment.

Investors are also keeping a close eye on delayed jobs data, with the September payrolls report expected to be released this Thursday. Although this information is outdated, it could confirm the ongoing slowdown in the labor market, potentially affecting market strategies.

This morning, earnings reports from major companies like Home Depot, PDD Holdings, and Medtronic are anticipated, which could further influence market dynamics.

As the day unfolds, traders and investors are advised to remain vigilant. The combination of earnings surprises, economic data, and external market pressures will dictate the immediate future of U.S. equities. Stay tuned for continuous updates as we monitor these developing situations.