U.S. stock futures rise as Nvidia’s new PC processor sparks tech gains, offsetting Intel’s premarket decline.
U.S. stock futures climbed early Monday after Nvidia unveiled a new processor designed for AI-powered personal computers. Dow futures rose 257 points, or 0.5%, while S&P 500 futures gained 0.3% and Nasdaq-100 futures added 0.2%. Nvidia shares jumped over 2% in premarket trading, leading gains among tech stocks.
Dell and HP followed, with shares up more than 1% and 4%, respectively. Intel, however, fell over 6% as Nvidia announced partnerships with manufacturers including Dell, Microsoft, and Lenovo. The move extends a tech-driven rally that pushed the Nasdaq Composite up more than 8% in May, outpacing the S&P 500 and Dow.
Oil prices rebounded, with WTI near $90 and Brent trading above $94 after a weekend exchange of fire between Iran and the U.S., despite ongoing ceasefire talks. Markets closed at record highs Friday following a 60-day ceasefire extension.