From Nasdaq:

U.S. stock index futures rose on Monday, indicating further momentum in the S&P 500 after chip and megacap stocks drove the benchmark index to a record high last week, with investors’ focus remaining on corporate earnings and clues on rate cuts by the Federal Reserve.

Following bullish forecasts from Taiwan’s TSMC TSM.N and Super Micro Computer SMCI.O, chip stocks rallied last week, steering the S&P 500 .SPX to an all-time high of 4,842.07 points and a record closing high of 4,839.81 on Friday, confirming a bull market since October 2022.

Tech stocks including Nvidia NVDA.O, Marvell Technology MRVL.O, Qualcomm QCOM.O, and Megacaps Alphabet GOOGL.O, Meta Platforms META.O, and Tesla TSLA.O gained, and have been viewed as ‘bulletproof’ investments by investors.

Netflix NFLX.O, Tesla TSLA.O, Abbott Laboratories ABT.N, Intel INTC.O, and Johnson & Johnson JNJ.N, are set to report their earnings later in the week, with 84.6% of S&P 500 companies exceeding earnings expectations so far.

Upcoming economic data releases and the U.S. Federal Reserve’s preferred inflation gauge will be closely watched for insights into the central bank’s next policy decision.

Dow e-minis 1YMcv1 were up 61 points, or 0.16%, S&P 500 e-minis EScv1 up 16.5 points, or 0.34%, and Nasdaq 100 e-minis NQcv1 up 113.5 points, or 0.65% in premarket trade. BoeingBA.N, SolarEdgeSEDG.O, and B. Riley Financial RILY.O were among other stocks that moved along with crypto stocks like Coinbase COIN.O, Bitfarms BITF.O, and Riot Platforms RIOT.O.

Source: https://tmsnrt.rs/47GGqyH



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