June 1 U.S. stock index futures climbed on Monday, starting June on a firm footing, as the latest AI push from Nvidia and Microsoft lifted shares, even as uncertainty over the Middle East war lingered.
Nvidia rose 1.6% in premarket trading after the world’s most valuable company unveiled a new chip that brings AI capabilities to laptops and desktops, set for release this fall
The chip is a result of a three-year partnership with Microsoft to “reinvent the PC” for the AI era, Nvidia CEO Jensen Huang said. Microsoft shares gained 2.8%. Other PC chipmakers dropped.
AMD and Intel fell 3.4% and 2.9%, respectively. The broader mood was more somber and oil prices climbed after the latest exchange of attacks between the U.S. and Iran raised concerns over efforts to negotiate to end the three-month-old war. Wall Street’s main indexes closed May at record highs, lifted by hopes of an eventual end to the Middle East war and blowout first-quarter earnings.