US stock futures little changed to start November after strong tech-led October
U.S. stock futures were little changed on Monday morning as investors kicked off a new month of trading following solid October gains.
S&P 500 futures edged up 0.17%, Nasdaq-100 futures rose 0.26%, and Dow Jones Industrial Average futures added 49 points, or 0.1%, News.Az reports, citing CNBC.
Wall Street closed out October on a high note, with the S&P 500 and Dow Jones Industrial Average climbing 2.3% and 2.5%, respectively, while the Nasdaq Composite outperformed with a 4.7% gain. The rally was fueled by continued enthusiasm for artificial intelligence stocks and signs of easing trade tensions between the U.S. and China.
So far, more than 300 S&P 500 companies have reported third-quarter results, with over 80% beating expectations, according to FactSet. Another 100-plus firms — including AI-linked names Palantir and AMD — are set to report this week.
“Fundamentally, the U.S. earnings picture remains strong,” wrote Tom Lee, head of research at Fundstrat, noting three key supports: robust AI-related spending, financial innovation via blockchain, and a dovish Federal Reserve set to end quantitative tightening on December 1.
November has historically been the strongest month for the S&P 500, averaging a 1.8% gain, according to the Stock Trader’s Almanac.
Meanwhile, investors are monitoring Washington as the U.S. government shutdown delays key economic data releases, including the monthly jobs report. The Supreme Court is also scheduled to hear arguments this week on the legality of tariffs enacted under the Trump administration.
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