U.S. stock futures rose on Monday morning, as investors hope for a rebound in tech names in the holiday-shortened week. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.65%, 0.41%, and 0.06%, respectively, at 8:16 a.m. EST on December 22. The New York Stock Exchange (NYSE) will close early at 1 p.m. EST on Wednesday for Christmas Eve and will remain closed on Thursday for Christmas.
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Last week was mixed for major indices. While the S&P 500 and the Nasdaq Composite were up 0.1% and 0.5%, respectively, the Dow Jones fell 0.7%, ending its three-week winning streak. AI stocks recovered last week following recent declines. Notably, Oracle (ORCL) shares surged following a deal to co-lead TikTok’s U.S. operations via a new joint venture. Also, Nvidia (NVDA) stock climbed on reports that the White House might greenlight sales of its H200 AI chips to select Chinese firms.
However, concerns about investors moving from the tech and AI space to other sectors remain amid worries about an AI bubble.
Turning to trending stocks, shares of software and networking giant Oracle (ORCL) were up 2.5% as Wells Fargo reiterated a Buy rating. Also, shares of crypto plays Strategy (MSTR) and Mara Holdings (MARA) rose 3% and 2.4%, respectively, in Monday’s pre-market trading as Bitcoin (BTC-USD) moved higher to trade back around $90,000.
Meanwhile, Rocket Lab (RKLB) stock was up more than 4% as the company secured an $816 million contract and announced its 21st Electron rocket launch.
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