US stock futures mixed Monday: S&P down 0.19%, Nasdaq up 0.1%

The split between Nasdaq strength and Dow weakness signals rotation toward tech rather than broad risk appetite, suggesting the market is pricing sector-specific drivers over macro sentiment. The Russell's drop amplifies that divergence, hinting small caps are not participating in the rally. For traders, the key is whether this tech-led divergence persists or converges as the session unfolds, since it could reflect positioning ahead of data or earnings rather than a directional shift.