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Nasdaq Futures Slip As Nvidia Sell-Off Continues, S&P 500 Futures Hold Up: Analyst Says 'Valuations Will Go Parabolic And It Will Be A Perfect Time To Sell'

The U.S. market is on track to open Monday’s session on a firmer note after retreating from its record high in the final two sessions of last week. Potential clues on the near-term rate outlook from Federal Reserve officials’ speeches could potentially move stocks. The tech rally will likely continue to normalize, going by the trends in the premarket session. Analysts, however, are not unduly worried about the overbought level seen in tech stocks. Commodities are modestly higher and bond yields are flat-lining. Global cues are mixed, with Asian stocks ending in a whimper, while the European markets were advancing. Futures Performance (+/-) Nasdaq 100 -0.10% S&P 500 +0.07% Dow +0.26% R2K +0.23% In premarket trading on Monday, the SPDR S&P 500 ETF Trust (NYSE:SPY) gained 0.15% at $545.30 and the Invesco QQQ ETF (NASDAQ:QQQ) was flat at $479.43, according to Benzinga Pro data.Cues From Last Week: U.S. stocks closed the holiday-shortened week ended June 21 higher but the gains were much more muted, potentially reflecting skepticism among traders as the market hovered in overbought territory. A strong run-up in tech stocks early in the week, led by Nvidia Corp. (NASDAQ:NVDA), and optimistic outlook issued by market strategists helped extend the bull run from the previous week that ended on June 15. Growth worries and profit taking dragged the major indices lower in the back-end of the week, trimming the gains for the week. The Dow Jones Industrial Average outperformed as ...