U.S. stock index futures held steady on Monday evening as investors awaited interest rate cuts in Europe and Canada later in the week, alongside key U.S. labor market data.
Technical glitches on the New York Stock Exchange disrupted Monday's trading, causing volatility and halting several major stocks. However, normalcy returned by the session's end.
S&P 500 Futures rose slightly to 5,300.25 points, with Nasdaq 100 Futures up to 18,662.50 points by 19:23 ET (23:23 GMT). Dow Jones Futures stabilized at 38,668.0 points.
Amidst weak economic data, speculation mounted for Fed rate cuts in September, fueled by a 52.5% chance, up from 47%, according to the CME Fedwatch tool. Manufacturing slowdown in May and anticipation for nonfarm payrolls data also shaped market sentiment.
The European Central Bank and Bank of Canada are expected to cut rates this week, preceding the Fed's meeting next week.
Technology stocks, led by NVIDIA Corporation, bolstered Wall Street. Despite Advanced Micro Devices Inc's competition, NVIDIA surged nearly 5% on AI chip announcements.
GameStop Corp surged 21% following revelations of a $115.7 million investment by influencer Keith Gill. Other meme stocks like AMC Entertainment Holdings Inc and Koss Corporation also gained ground.
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Telah diedit 04 Jun 2024, 11:23
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