U.S. stocks opened slightly lower Monday as investors weighed strong demand for artificial intelligence and data center infrastructure against mounting consumer debt pressures and signs of slowing global supply chain momentum.

The Dow Jones Industrial Average slipped 7.78 points, or 0.02%, to 44,938.3. The S&P 500 was down 4.05 points, or 0.06%, at 6,445.75, while the Nasdaq Composite fell 6.91 points, or 0.03%, to 21,616.1.

At the sector level, technology remains a focal point. A Monday morning note from Wedbush Securities highlighted diverging trends in the Taiwanese supply chain, where data center and AI-related components continue to perform strongly, while broader consumer electronics categories soften amid weaker global demand. “We believe AI builds continue to ramp: We have continued to garner positive feedback on AI demand/shipments and believe that momentum in this space will remain a sustainable tailwind through 2025 and well into 2026,” Wedbush analysts wrote.

The brokerage also updated its closely watched IVES AI 30 list, adding CrowdStrike, Roblox, GE Vernova, and Nebius as beneficiaries of accelerating AI adoption, while removing C3.ai, Adobe, Elastic, and CyberArk due to strategic or structural challenges.

Yet, concerns about consumer resilience temper optimism. According to a Bank of America Institute report last week, household debt rose in the second quarter to $18.39 trillion, with mortgage balances climbing to $12.94 trillion. Early delinquencies are rising fastest in western states, while new student loan defaults have spiked among older borrowers following the end of the payment pause.

The shifting composition of U.S. growth also came into sharper focus. Torsten Slok, chief economist at Apollo Global Management, noted that in the first half of 2025, data center investment has contributed to GDP growth at the same rate as consumer spending — historically the dominant driver of U.S. economic activity.

Taken together, the mix of resilient technology investment and rising household financial strain underscores the crosscurrents facing markets. While corporate earnings tied to AI infrastructure remain robust, consumer-driven sectors face headwinds from high borrowing costs and tighter household budgets. Investors will be watching closely as the week unfolds, with housing data and corporate earnings reports on deck to test whether the balance tips toward optimism or caution.