U.S. equity futures point to a stronger open on Monday, with technology and artificial intelligence stocks expected to lead gains following last week’s mixed performance.
Nvidia (NASDAQ:NVDA) is trading 1% higher in the premarket, while Oracle (NYSE:ORCL) is up 0.9% after several sessions of selling pressure. Investor attention is also on Electronic Arts (NASDAQ:EA), which surged 5.4% after confirming an agreement to be acquired by a group of investors, including PIF, Silver Lake, and Affinity Partners. The $55 billion all-cash deal values the gaming giant at $210 per share, a 25% premium over Thursday’s closing price of $168.32.
Friday’s upbeat finish is providing momentum heading into the new week. The Dow climbed 299.97 points to 46,247.29, the S&P 500 advanced 38.98 points to 6,643.70, and the Nasdaq added 99.37 points to 22,484.07. However, all three benchmarks still posted weekly declines, snapping recent winning streaks.
Macroeconomic risks remain in focus. Markets are awaiting Friday’s nonfarm payrolls data, expected to show 50,000 jobs added in September after a modest 22,000 gain in August. The figures could heavily influence expectations around future Federal Reserve rate cuts. At the same time, a looming government funding deadline on Tuesday is raising the risk of a partial U.S. government shutdown.
Recent inflation data has bolstered sentiment. The Commerce Department said the PCE price index, the Fed’s preferred inflation gauge, increased 0.3% in August, with the annual rate ticking up to 2.7%. Core PCE inflation held steady at 2.9%, aligning with forecasts and reinforcing confidence in further Fed easing.
Meanwhile, President Donald Trump unveiled fresh trade measures via Truth Social, including a 100% tariff on imported pharmaceuticals not produced in the U.S., a 25% tariff on heavy trucks, and a 50% levy on cabinetry and vanities, effective October 1.
Friday also saw strong sector moves. Gold miners rallied as bullion prices hit multi-year highs, with the NYSE Arca Gold Bugs Index up 2.5%. Oil service stocks gained on higher crude prices, while utilities, housing, steel, and natural gas companies all posted notable advances.
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