FX.co ★ US Futures Point to Gains at the Open

At the onset of a week shortened by the holiday, US equity futures saw an uptick, building on Friday's strong momentum. The S&P 500 futures increased by 0.4%, while Nasdaq 100 futures climbed 0.6%, and Dow Jones futures rose by almost 30 points. Boosted by renewed optimism in AI-related stocks, which continued their recovery from last week, and an enhanced outlook on economic conditions and corporate earnings, market sentiment was positive. Investors are also anticipating the release of postponed economic data tomorrow, notably the second estimate of GDP growth, which is expected to shed more light on the current state of the US economy. In anticipation of the market opening, Nvidia rose by 1.9%, Micron Technology soared 3.8%, and Oracle increased by 2.6%. Most mega-cap stocks also trended upwards, with Microsoft rising 0.3%, Amazon gaining 0.5%, Meta up by 0.4%, Alphabet increasing 0.6%, Broadcom advancing 1.2%, and Tesla up 1.3%. In contrast, Apple saw a slight decline, dipping by 0.2%.