Stock futures are little changed Monday night after major U.S. averages rebounded, driven by strength in the artificial intelligence trade and renewed hopes of a Federal Reserve interest rate cut.
Futures tied to the Dow Jones Industrial Average added 13 points, or less than 0.1%. S&P futures rose nearly 0.1%, while Nasdaq 100 futures rose more than 0.1%.
Stocks posted strong gains across the board on Monday, starting a shortened trading week off strong. The S&P 500 in the previous session gained almost 1.6%. The Nasdaq Composite jumped 2.7% and recorded its best day since May 12 as major tech names rebounded after what’s been a tough month for the sector. The Dow Jones Industrial Average closed higher by nearly 203 points, or 0.4%, meanwhile.
Google parent Alphabet
was the outperformer of the “Magnificent Seven” group by a large margin, ending the day 6.3% higher. Chipmaker Broadcom
