NEW YORK, December 29, 2025, 06:54 ET — Premarket
- Microsoft shares down about 0.2% in premarket trading; last closed at $487.71 on Friday. [1]
- Nasdaq 100 futures pointed to a lower open as investors start the final trading week of the year; Fed meeting minutes are due Tuesday.
- AI-linked names including Nvidia and Oracle also fell early, adding pressure to the tech complex.
Microsoft (MSFT.O) shares slipped about 0.2% in premarket trading on Monday, changing hands around $486.69, as equity futures edged lower to start the final week of 2025. MarketWatch data showed the stock was down $1.02 from Friday’s close.
(MarketWatch quote)
The software maker is one of the biggest weights in the Nasdaq and S&P 500, leaving it a key swing factor when holiday-thinned volumes can amplify moves. Traders are also watching whether the market can extend the “Santa Claus rally” — a seasonal stretch when the S&P 500 tends to gain in the last five trading days of the year and the first two of January, according to Stock Trader’s Almanac.
Stock-index futures, which indicate where the market may open, pointed to a softer start. Nasdaq 100 E-minis were down 0.40% and S&P 500 E-minis were off 0.22% in early New York hours, a Reuters report said. [2]
( [3])
Even after last week’s record closes, some strategists said momentum still favored equities into year-end. “Momentum is certainly on the side of the bulls,” Paul Nolte, senior wealth adviser and market strategist at Murphy & Sylvest Wealth Management, told Reuters.
(Reuters Week Ahead)
Other large-cap technology names leaned lower early, setting a cautious tone for the sector. Nvidia fell 1.1% and Oracle slid 1.6% in premarket trading, while Tesla was down 1.4%, Reuters reported. [4]
Microsoft closed Friday’s regular session at $487.71, leaving it within a 52-week range of $344.79 to $555.45, Nasdaq data show. [5]
No company-specific headline was immediately apparent ahead of the bell, leaving Microsoft to trade largely in line with broader risk appetite. The pullback came as investors weighed year-end positioning after a strong run that pushed benchmark indexes to record highs last week, Reuters said.
Investors remain focused on Microsoft’s cloud and artificial-intelligence spending profile heading into 2026, with Azure growth and datacenter costs key swing factors for sentiment. In its most recent quarterly update, Microsoft said revenue increased across each of its segments, driven in part by Azure and cloud demand. [6]
( [7])
Capital spending has also stayed in focus after Microsoft signaled elevated outlays tied to AI infrastructure. Reuters reported in October that Microsoft’s AI infrastructure spending was outpacing Wall Street expectations, adding to investor debate over the costs of sustaining the AI boom. [8]
( [9])
Some investors have also been tracking signs of rotation away from megacap technology into other sectors, after tech shares wobbled earlier in the month. The S&P 500 tech sector had fallen more than 3% since the start of November even as other parts of the market improved, Reuters reported.
On the macro calendar, traders are waiting for minutes from the Federal Reserve’s most recent meeting, due Tuesday, for fresh clues on the rate outlook. Weekly jobless claims are also in focus, Reuters said.
The week is shortened by the New Year’s Day holiday, with U.S. markets closed on Thursday. Thin trading can exaggerate moves, which can matter for heavyweight stocks such as Microsoft.
( [10])
Microsoft has not publicly set the date for its next earnings release, according to its investor relations site, leaving markets to lean on broader macro signals and cross-sector positioning in the final sessions of 2025.
References
1. www.nasdaq.com, 2. www.reuters.com, 3. www.reuters.com, 4. www.reuters.com, 5. www.nasdaq.com, 6. www.microsoft.com, 7. www.microsoft.com, 8. www.reuters.com, 9. www.reuters.com, 10. www.nasdaq.com
