Futures
US stock futures point to a higher open. S&P 500 futures are up 0.71% and Nasdaq 100 futures are up 0.67%. Dow futures gained 1.04%. Small caps lead, with Russell 2000 futures up 1.28%.
Macro & overnight
Asian shares and US futures rose Monday. AI stocks recovered some of the ground they lost in last week's sell-offs.
Nvidia said Sunday it is investigating reports that CEO Jensen Huang was the target of a foreign intelligence effort. That is a headline risk at the open.
Oil fell after President Trump said further attacks on Iran were highly unlikely while talks continue. That eased inflation worries, and gold gained more than 1%.
Investors await US CPI on Tuesday and PPI on Friday. Traders see an 81% chance of a Fed rate hike in December, after strong October payrolls.
Themes
Electrical & grid infrastructure ▲ median +2.72%: BE +3.23%, FIX +3.20%, GEV +2.72%, ETN +2.52%, FER +2.15%
Airlines ▲ median +3.78%: UAL +4.34%, DAL +3.78%, LUV +2.58%
Mega-cap tech platforms ▲ median +2.68%: AMZN +3.41%, META +2.93%, GOOGL +2.43%, MSFT +2.18%
Electrical and grid infrastructure stocks rose together. Bloom Energy (BE) gained 3.23%, Comfort Systems USA (FIX) 3.2%, GE Vernova (GEV) 2.72% and Eaton (ETN) 2.52%.
Airlines also moved higher. United (UAL) rose 4.34%, Delta (DAL) 3.78% and Southwest (LUV) 2.58%.
Mega-cap tech platforms advanced. Amazon (AMZN) rose 3.41%, Meta (META) 2.93%, Alphabet (GOOGL) 2.43% and Microsoft (MSFT) 2.18%.
