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Stock futures are little changed after S&P 500 posts best day since early August

1 d ago

U.S. equity futures traded near flat Monday evening after an AI-driven rally lifted the S&P 500 and Nasdaq Composite to new highs, with chipmakers Intel and AMD surging and Meta Platforms jumping over 11%. S&P 500 futures added 0.02%, Nasdaq-100 futures gained 0.2%, and Dow futures inched up 4 points (0.01%). The rally saw the S&P 500 climb 1.5% for its best day since Aug. 4, while the Nasdaq Composite jumped 2.3% to a record close since June. The Dow rose 366 points (0.7%). Tech heavyweights led the charge: Meta surged more than 11%, Intel jumped 12%, AMD gained roughly 10% (touching a $1 trillion market cap), Nvidia rose 2%, and Corning advanced nearly 6%. A decline in oil prices fueled gains, with West Texas Intermediate crude futures dropping 4.5% to $95.78/barrel and Brent settling over 3% lower at $100.34/barrel. Treasury yields pulled back, with the 10-year note yield sliding more than 4 basis points to 4.951%, even as the Fed hiked rates by a quarter point last week amid rising debt, elevated oil, and stubborn inflation. Traders now focus on the Washington summit between President Donald Trump and Chinese leader Xi Jinping, covering AI, the Iran war, tariffs, and rare earth metals. Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng ahead of Xi’s visit. Tuesday brings the Richmond Fed manufacturing survey, speeches from New York Fed President John Williams and Richmond Fed President Tom Barkin, plus earnings from AutoZone and KB Home.