Stock futures could trade mixed on Monday as the U.S. stock market looks to extend a rally that has lifted major indexes to record highs.
Futures tracking the Dow Jones Industrial Average fell 0.2%, while futures tracking the S&P 500 and Nasdaq 100 rose 0.2% and 0.3%, respectively. The S&P 500 and Dow hit record highs on Friday as investors reacted to strong earnings reports from major banks and encouraging reports on inflation.
Monday is a federal holiday in the United States, so government agencies, banks, and the bond market are closed. The stock market is open and functioning as usual today, but there is nothing noteworthy about the calendar of earnings and economic data releases.
Large-cap tech stocks rose across the board in premarket trading. AI investor favorites Nvidia (NVDA), Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Meta Platform (META), and Alphabet (GOOGL) were all on the rise.
Boeing (BA) shares rose after the aircraft maker announced a number of cost-cutting measures over the weekend, including cutting about 10% of its workforce (17,000 people) and delaying the launch of its first jetliner, the 777X. It fell about 2%. Boeing also said it expects to take a total of $5 billion in pre-tax income charges for its commercial aircraft and defense divisions in the third quarter.
Cryptocurrency stocks are gaining momentum as Bitcoin (BTCUSD) soars to nearly $65,000 for the first time this month. Software company MicroStrategy (MSTR), which holds large amounts of Bitcoin, rose more than 5%, cryptocurrency exchange Coinbase (COIN) rose 3%, and Bitcoin miner Marathon Digital Holdings (MARA) rose 5%.
Crude oil futures have been volatile in recent weeks, falling 2% on concerns that escalating conflict in the Middle East could disrupt global oil supplies. Gold futures were little changed at around $2,670 an ounce.
Futures refer to mixed open of major indexes
53 minutes ago
Futures, which track the Dow Jones Industrial Average, fell 0.2%.
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S&P 500 futures rose 0.2%.
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Nasdaq 100 futures rose 0.3%.
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