On Monday, US stock futures showed an upward trend, with S&P 500 futures increasing by 0.4%, the Nasdaq 100 rising by 0.8%, and Dow Jones futures climbing approximately 100 points. This positive movement was largely driven by investor optimism surrounding AI-related partnerships. Notably, Advanced Micro Devices (AMD) experienced a significant surge, with shares soaring over 22% in premarket trading. This followed the announcement of a deal in which OpenAI will utilize 6 gigawatts of AMD graphics processing units (GPUs) over several years. Additionally, AMD has issued OpenAI a warrant for up to 160 million shares.
Most mega-cap stocks saw gains before the market opened, with Microsoft up by 0.6%, Apple rising by 0.3%, Amazon increasing by 0.7%, Alphabet advancing by 0.3%, Meta up by 0.3%, and Tesla climbing by 2.2%. Conversely, Nvidia and Broadcom experienced declines, with losses of 1.4% and 2.8%, respectively.
In parallel, the government shutdown has reached its sixth day as Senators were unable to pass spending proposals for the fourth time on Friday. Lawmakers will reconvene Monday to again vote on a Democratic funding plan, which emphasizes healthcare priorities, along with a Republican-backed stopgap bill. However, neither measure is anticipated to succeed.
