Stock futures took a downturn on Sunday night as Wall Street embarked on a new trading month, with traders closely monitoring Bitcoin's performance following a weekend sell-off. The Dow Jones Industrial Average futures shed 143 points, or 0.3%, while S&P 500 futures dipped 0.6%, and Nasdaq-100 futures lost nearly 1%. Bitcoin's value dropped below $80,000, its lowest point since April, indicating investors were reducing their risk exposure after Friday's sharp declines in gold and silver. Silver, which had more than doubled in the past 12 months, plummeted by around 30% on Friday, marking its worst one-day performance since 1980. Gold also experienced a 9% decline. Bitcoin's last recorded value was near $76,000. Wall Street's attention also shifted to Nvidia as questions arose about the artificial intelligence sector. The Wall Street Journal reported that Nvidia's plans to invest $100 billion in OpenAI had hit a snag, with chipmaker executives expressing doubts about the deal. Despite this, Nvidia CEO Jensen Huang expressed his satisfaction with OpenAI, stating that the company will make a significant investment and praising OpenAI's work and impact. This week, over 100 S&P 500 companies, including Amazon, Alphabet, and Disney, are set to report their earnings. Deutsche Bank strategists predict that earnings growth will be the strongest in four years. Wall Street is eagerly awaiting the January U.S. jobs report, due out on Friday morning, with economists anticipating the addition of 55,000 jobs last month. The stock market had a challenging session, with major benchmarks declining after President Donald Trump's nomination of Kevin Warsh as the Federal Reserve chairman. If confirmed, Warsh will replace Jerome Powell later this year.
