Nasdaq 100 and S&P500: Index Futures Lift Briefly Before CME Outage Stops Trading

Stock Futures Hold Steady as CME Outage Freezes Trading During Tough Month-End

Stock futures were little changed Thursday night as traders processed a rare CME outage and the prospect of a negative November finish for major U.S. indexes.

Nasdaq-100 futures gained 0.18%, while S&P 500 futures added 0.10% before CME halted all activity. Dow futures rose 52 points during the brief trading window. With markets entering a shortened post-Thanksgiving session, investor focus turned sharply to system stability and month-end positioning.

CME confirmed that a cooling problem at a CyrusOne data center forced a full halt to futures and options trading. The exchange, which handles key contracts across equities, energy, metals and agricultural commodities, said support teams are addressing the issue and will update clients once pre-open timing is confirmed.

CyrusOne has not yet commented, leaving traders without clarity during an already sensitive period for volume and liquidity.

How Are Indexes Positioned as November Ends

Major U.S. indexes remain set to finish November in the red. Based on Wednesday’s close, the Nasdaq Composite is down 2.15% for the month, pressured by weakness across megacap and AI-linked names. The S&P 500 has slipped 0.4% month to date, while the Dow Jones Industrial Average is lower by 0.29%. All three are on track to end multi-month winning streaks unless an unusually strong Friday rebound materializes.

Is Tech Still Dragging on Broader Sentiment

Concerns about long-term profitability for AI companies have limited buyers’ willingness to step in aggressively. Technology stocks have been the primary source of pressure, contributing to the Nasdaq’s underperformance and breaking the sector’s recent momentum. The month’s performance marks a clear departure from the typical seasonal pattern, where November historically delivers gains averaging 1.8% since 1950.

Are Investors Positioning for a Year-End Turnaround

Some traders argue the pullback has created more appealing entry points in select technology names. Others remain cautious, noting that traditional post-election seasonality has not held this year.

Wednesday’s action showed pockets of strength: the Dow gained more than 2% for the week, while the S&P 500 and Nasdaq rose 3% and 4%, respectively, helped by a short-term rebound in several large-cap tech stocks.

What Should Traders Expect Into December

With CME futures trading temporarily frozen and only a shortened session ahead, near-term sentiment stays fragile. Unless technology leadership steadies, momentum for U.S. equities may remain limited.

For now, the near-term outlook leans slightly bearish as traders wait for updates from the Federal Reserve, corporate guidance, and clearer signals on whether tech demand can recover heading into December.

More Information in our Economic Calendar.