US Stock Futures Steady Ahead of Trump’s UN Address and Alibaba's AI Chip Launch
US stock futures remained stable ahead of President Donald Trump's address at the United Nations, with investors also watching a new artificial intelligence chip launched by Alibaba. The S&P 500 had its strongest session since August on Monday due to gains in AI-related companies like Meta Platforms (NASDAQ:META), Advanced Micro Devices (NASDAQ:AMD), and Intel (NASDAQ:INTC). Meanwhile, oil prices remained above $100 a barrel amid ongoing tensions between the US and Iran. Trump's speech at the UN is expected to focus on international security issues including conflicts in the Middle East and Ukraine. The situation remains tense with hostilities continuing between U.S.-backed forces and Iranian-aligned groups in Yemen, raising concerns over oil shipments through key straits like Bab el-Mandeb and Hormuz. In economic news, St. Louis Federal Reserve President Alberto Musalem suggested that further interest rate increases may be necessary to address inflationary pressures linked to energy prices.
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Topics: AI chip launch Federal Reserve comments Trump's UN address US stock futures