US equity futures pointed to a muted start on Monday, with S&P 500 contracts down 0.11% two hours before the New York session. ExanteData’s cross-asset model, which blends signals from foreign-exchange and rates markets, projected a 0.02% decline at the open, the least bullish reading coming from fixed-income indicators. Despite the subdued pre-market signals, the S&P 500 has consistently outperformed ExanteData’s risk-sentiment model, beating it by 2.34 percentage points over the past 20 trading days. Market leadership remains concentrated in the so-called Magnificent 7 technology giants, which have gained 13% in the last two months versus a 7.6% advance for the broader S&P 500 and a 5% rise for the equal-weighted version of the index.