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U.S. stock futures advanced on Monday, buoyed by tech stocks on continued hope for artificial intelligence-related demand.
Dow Jones Industrial Average futures rose 48 points, or 0.1%, to 43069.
S&P 500 futures gained 23 points, or 0.4%, to 6013.
Nasdaq-100 futures increased 127 points, or 0.6%, to 21643.
On Friday, the Dow Jones Industrial Average rose 340 points, or 0.8%, to 42732, the S&P 500 increased 74 points, or 1.26%, to 5942, and the Nasdaq Composite gained 341 points, or 1.77%, to 19622.
Chip stocks including ASML rose in Asia and Europe after Taiwan’s Foxconn said strong AI server demand boosted fourth-quarter sales and said first-quarter results should “show significant growth.” OpenAI CEO Sam Altman meanwhile said his firm’s professional subscription service is losing money because usage is much higher than expected.
Nvidia shares rose 2% in premarket trade, as Broadcom also gained ground.
It’s a quiet economics calendar Monday — factory orders, an auction of 3-year notes, and a speech from Fed Gov. Lisa Cook — ahead of Friday’s release of nonfarm payrolls.
The dollar fell against its Canadian counterpart a report in The Globe and Mail that Prime Minister Justin Trudeau will resign as early as Monday. President-elect Donald Trump’s threat to impose 25% tariffs on Canada as well as Mexico has added pressure to an economy already under strain from rising prices and housing market turmoil.
