Dow, S&P 500, Nasdaq futures steady with Fed minutes on deck

US stock futures were mostly steady overnight Monday as Wall Street looked to regroup after a tech-led slide to begin the final stretch of 2025.

Futures tied to the Dow Jones Industrial Average futures (YM=F), the S&P 500 (ES=F), and the tech-heavy Nasdaq (NQ=F) all hovered around the flatline.

The major Wall Street indexes fell modestly Monday, as Nvidia (NVDA) and Tesla (TSLA) led megacaps lower amid a small rotation out of tech stocks. Traders are reassessing — and perhaps taking profits before the end of the year.

Tuesday brings the release of the minutes from the Federal Reserve’s December meeting, at which it cut interest rates for a third straight time but signaled it may pause those cuts in the months ahead. The minutes will serve as one of the final potential market-moving catalysts of 2025, with only a reading on weekly initial jobless claims — on Wednesday morning — remaining on the calendar before the new year.

The central bank’s meeting readout could add fresh insight for investors looking for clues on the Fed’s next move in January, with the divisions that have gripped the central bank in 2025 likely to continue into the new year. Around 84% of bets are on the Fed standing pat at current interest rate levels next month, though traders about equally split on what the committee will do in March.