US futures point to a modestly positive open with the S&P 500 gaining 0.23% to 739.30, though elevated VIX at 18.81 (+2.34%) signals underlying caution. Asian markets showed mixed performance overnight while European indices traded flat amid continued inflation concerns. The risk-on sentiment remains fragile as oil surges 3.27% to $101.28, raising stagflation fears. Energy sector strength contrasts with tech weakness, as mega-cap names face rotation pressure. The dollar's resilience against EUR/USD at 1.1751 and strength versus yen at 157.50 reflects persistent Fed hawkishness expectations.

S&P 500 futures at 739.30 hover near Friday's close with 742 resistance and 735 support key levels. Nasdaq futures at 26,274 show relative underperformance given mega-cap tech weakness. Dow futures at 49,704 benefit from energy exposure. Watch for gap-fill action at the 9:30 ET open.

TSLA leads with +3.89% to $445.00 on autonomous driving progress reports. NVDA gains 1.96% to $219.44 despite sector headwinds. GOOGL drops 3.01% to $388.64 on regulatory concerns. META slides 1.77% to $598.86 following metaverse spending guidance. GS rises 0.89% to $944.86 on trading revenue optimism.

Energy and select industrials outperform while communication services and consumer discretionary lag. The AI trade shows fatigue as investors rotate toward value plays and energy beneficiaries of rising oil prices. 📰 Key Catalysts Today CPI data at 8:30 ET remains the primary focus. Camtek and D-Wave earnings provide chip sector direction. Fed speakers Williams (10:00 ET) and Bostic (2:00 ET) offer policy guidance.

Higher-than-expected CPI could trigger tech selloff amplification. Geopolitical oil supply disruptions may accelerate energy rotation at growth stocks' expense.

Higher-than-expected CPI could trigger tech selloff amplification. Geopolitical oil supply disruptions may accelerate energy rotation at growth stocks' expense.