5 things to know before the stock market opens Monday

Futures: Dow up 0.57%, S&P up 0.23%, Nasdaq down 0.35%.

The Nasdaq index was set for a lower open on Monday as technology firms slipped and the shares of Nvidia led declines among major chipmakers, while Dow futures were supported by a rise in economy sensitive stocks.

Nvidia Corp fell by 3.6% in premarket trading, adding to a 4.5% decline on Friday after the U.S. Federal Trade Commission sued to block its more than $80 billion deal to buy British chip technology provider Arm.

EU antitrust regulators have stopped their investigation into the takeover deal as they wait for more information.

Peers Qualcomm Inc and Advanced Micro Devices Inc and heavyweight growth stocks Microsoft Corp, Google-owned Alphabet Inc, Meta Platforms, Amazon.com Inc and Tesla Inc fell between 0.5% and 2.1%.

Occidental Petroleum, up 1.7%, led gains among energy stocks that were tracking oil prices.

Wells Fargo was the biggest gainer among big lenders, rising 1.2%.

The coronaviruses have spread to about one-third of the U.S. states as of Sunday. While Dr. Anthony Fauci, the top U.S. infectious disease official, told CNN that there is not a great degree of severity to it, Goldman Sachs has cut its outlook for U.S. economic growth to 3.8% for 2022, citing risks and uncertainty surrounding the emergence of the latest variant.

Wall Street's major indexes saw weekly declines on Friday, swinging wildly, as investors digested Omicron news and Federal Reserve Chair Jerome Powell's hawkish comments about speedier taper to tackle surging inflation.

Powell's comments spurred bets of early interest rate hikes next year, with market participants shifting to cyclical, economy-linked and so-called value names from tech-heavy growth stocks, expecting to perform better in an environment of tighter monetary policy.

The S&P 500 value index fell by 0.9% last week, but still outperformed its growth counterpart, which dropped 1.5%.

Dow's e-minis were up 198 points, or 0.57%, S&P 500 e-minis were up 10.25 points, or 0.23%, and Nasdaq 100 e-minis were down 55.75 points, or 0.35%, according to ET.

After a mixed jobs report last week, focus will now be on the consumer price index and core inflation readings on Friday for clues on the trajectory of the Fed's policy decision at its December meeting.

Kohl's Corp rose by 2.7% after hedge fund Engine Capital LP said it was pushing the department-store chain to consider a sale of the company or separate its e-commerce division to improve its stock price.