US Stock Market Sees Early Gains as Tech Stocks Recover, Crude Oil Prices Continue Downward Trend
US Stock Futures Rise, Led by Technology Stocks
US stock futures traded with healthy gains on Monday, 6 July, as technology stocks rebounded and lower crude oil prices supported market sentiment. Investors are closely watching key events lined up this week, including the release of the US Federal Reserve's meeting minutes.
The Nasdaq 100 futures climbed 1% after the US holiday break, while futures tied to the Dow Jones Industrial Average were little changed. S&P 500 futures rose 0.4%. The three benchmark indices ended last week in the green, with the Dow Jones climbing nearly 2%, bringing it within striking distance of the 53,000 mark, a level it has never reached. The S&P 500 and Nasdaq Composite also posted solid weekly gains of 1.8% and 2.1%, respectively.
However, chip stocks, which had driven Wall Street's sharp rally this year, have recently lost momentum as investors grew concerned that the AI-driven rally had gone too far, too fast, prompting profit booking. Weak cues from some Asian markets also kept sentiment toward semiconductor stocks subdued.
