US stock futures popped on Monday as chip stocks shone, while investors waited for the release of the key monthly jobs report later in the week.
Contracts on the Nasdaq 100 (NQ=F) surged almost 1%, while S&P 500 futures (ES=F) jumped roughly 0.7%, poised to build on Friday’s tech-led rally. Dow Jones Industrial Average futures (YM=F) rose 0.3%.
The upbeat mood kicks off the first full-on week of 2025 for traders, highlighted by the release of the December nonfarm-payrolls report on Friday. But it’s another shortened week, as stock markets shutter on Thursday to mourn the death of former President Jimmy Carter.
Chip stocks are rallying after a record revenue and a strong sales forecast from Nvidia (NVDA) server partner Foxconn (2317.TW, HNHPF), which boosted optimism for AI-fueled growth. Shares of Nvidia rose 2% in pre-market trading, while peers AMD (AMD) and Micron Technology (MU) each put on over 3%.
Focus stays on Nvidia later Monday when CEO Jensen Huang gives the keynote speech to start the CES tech conference. Investors will listen for signs its new Blackwell chip has shaken off supply glitches.
Coming soon
Live stock market coverage for Monday, January 6, 2025.
