U.S. Equity Futures Flat After S&P 500's Strong Rally Driven by AI Stocks
U.S. equity futures traded near the flatline following a strong rally in major indices driven primarily by artificial intelligence (AI) stocks on Monday night. The S&P 500 rose 1.5%, marking its best day since early August, while the Nasdaq Composite closed at a record high with a gain of 2.3%. Tech giants like Meta Platforms surged over 11%, and chipmakers Intel and AMD saw gains of around 12% and 10%, respectively. The rally was supported by falling oil prices and easing Treasury yields, which retreated as concerns about inflation eased slightly. West Texas Intermediate crude futures dropped nearly 4.5%, while the yield on the 10-year Treasury note fell to 4.951%. Market participants are now looking ahead to a key U.S.-China summit in Washington, DC, where AI and trade issues will be discussed. Traders also anticipate economic data including the Richmond Fed's manufacturing survey and speeches from Federal Reserve officials John Williams and Tom Barkin.
Tickers: $AMD $AZO $GLW $INTC $KHC $META $NVDA
Topics: artificial_intelligence geopolitical_meetings oil_prices treasury_yields