US Equity Index Futures Advance Ahead of Holidays Amid Easing AI Bubble Fears

MT Newswires Live12-22 21:01

US equity index futures edged up slightly premarket Monday amid a rebound in tech stocks and an uptick in the prognosis for AI.

Dow Jones futures up 0.4%, broader S&P 500 futures advanced 0.9% and the tech-heavy Nasdaq moved up 1.3%.

Markets were lifted following strong results reported by chip companies like Micron (MU) last week, which may have calmed fears of an AI bubble overinflating the tech sector.

Still, trading volume this week is expected to be somewhat tepid ahead of Christmas Day on Thursday, with markets closing early on Wednesday.

Oil prices were up amid reports of tensions between Israel and oil-exporting Iran and talk of war between US and Venezuela, with the largest proven reserves in the world. West Texas Intermediate crude oil futures up 2.2% while North Sea Brent crude advanced 2.1%.

The Chicago Fed National Activity Index, an overall measure of economic activity and inflationary pressures which has been delayed because of the government shutdown, is scheduled to release its latest report before the opening bell, with an initial release covering data through September.

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