Dow, S&P, Nasdaq futures jump ahead of shortened US trading week
US stock futures climbed Monday morning as investors looked for a turnaround following a recent pullback in this year’s AI-driven market rally.
Dow Jones Industrial Average futures gained around 0.2%, S&P 500 futures rose 0.5%, and Nasdaq-100 futures advanced 0.7%, News.Az reports, citing foreign media.
US markets will be closed Thursday for Thanksgiving and will close early at 1 p.m. ET on Friday.
The gains follow Friday’s rebound after Federal Reserve Bank of New York President John Williams suggested a December rate cut remains possible. Despite this, major indexes have faced notable November losses as investors reassess high valuations in AI-focused stocks.
The S&P 500 dropped 2% last week, widening its month-to-date decline to about 3.5%. The Nasdaq Composite slid 2.7% and is now down over 6% in November. The Dow fell almost 2% over the week and is off nearly 3% for the month.
While still working through the impact of the longest government shutdown in US history, data releases are beginning to trickle back into circulation, though a return to the full economic calendar is still a ways off.
This week, traders are eyeing data on producer prices from the Bureau of Labor Statistics and the Census Bureau's retail sales data, both from September. Both reports are due out Tuesday.
Earnings season continues with a week of relatively muted releases. Alibaba Holdings (BABA), Dell Technologies (DELL), and a smattering of retailers, including Kohl's (KSS) and Best Buy (BBY) are the highlights of the holiday-shortened week.
President Trump's tariffs also remain in the back of mind, with the Supreme Court set to issue a ruling on whether the bulk of them were imposed legally. The Commerce Department and the Office of the US Trade Representative are reportedly preparing a roadmap if the ruling goes against the administration.
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