US stock futures soared on Monday as chip stocks performed well as investors awaited the release of the key monthly jobs report later in the week.
Contracts on the Nasdaq 100 () rose nearly 1%, while S&P 500 futures () rose about 0.7%, poised to build on Friday’s tech-led rally. Dow Jones Industrial Average futures () rose 0.3%.
The optimistic mood kicks off the first full week of 2025 for traders, which was highlighted by the release of the December nonfarm payrolls report on Friday. But it’s another shortened week as stock markets close their doors on Thursday to mourn the death of former President Jimmy Carter.
Chip stocks rise after record revenue and strong sales forecast from Nvidia (NVDA) server partner Foxconn (2317.TW, HNHPF), boosting optimism about AI-powered growth. Nvidia shares rose 2% in pre-market trading, while peers AMD (AMD) and Micron Technology (MU) rose more than 3% each.
The focus remains on Nvidia later Monday when CEO Jensen Huang gives the keynote speech to kick off the CES tech conference. Investors will be listening for signs that the new Blackwell chip has solved supply problems.
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Live stock market coverage for Monday, January 6, 2025.
