Following the strong upward move seen over the two previous sessions, stocks are likely to see continued strength in early trading on Monday. The major index futures are currently pointing to a higher open for the markets, with the S&P 500 futures up by 0.4 percent.
Technology stocks may continue to lead the way higher after turning in some of the market’s best performances last Thursday and Friday.
Shares of Oracle (ORCL) are surging by 2.6 percent in pre-market trading after Wells Fargo reiterated its Overweight rating on the software giant’s stock.
AI darling and market leader Nvidia (NVDA) is also likely to see further upside after a report from Reuters said the company has told Chinese clients it aims to start shipping its second-most powerful AI chips to China before the Lunar New Year holiday in mid-February.
Overall trading activity may be somewhat subdued, however, with a lack of major U.S. economic data likely to keep some traders on the sidelines.
Some traders may also be away from their desks as they look to get a head start on the Christmas Day holiday on Thursday.
Reports on durable goods orders, third quarter GDP, industrial production and consumer confidence are still likely to attract attention on Tuesday.
Stocks showed a strong move to the upside during trading on Friday, extending the significant rebound seen over the course of Thursday’s session. With the upward move, the major averages further offset the weakness seen earlier in the week.
The tech-heavy Nasdaq reached new highs for the session going into the end of the day, closing up 301.26 points or 1.3 percent at 23,307.62. The S&P 500 also jumped 59.74 points or 0.9 percent to 6,834.50, while the narrower Dow rose 183.04 points or 0.4 percent to 48,134.89.
With the strong upward move, the Nasdaq and the S&P 500 turned positive for the week. The Nasdaq climbed by 0.5 percent and the S&P 500 inched up by 0.1 percent, although the Dow slid by 0.7 percent.
In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Monday. Japan’s Nikkei 225 Index surged by 1.8 percent, while China’s Shanghai Composite Index advanced by 0.7 percent.
Meanwhile, the major European markets have moved to the downside on the day. While the German DAX Index is down by 0.1 percent, the French CAC 40 Index and the U.K.’s FTSE 100 Index are both down by 0.5 percent.
In commodities trading, crude oil futures are surging $1.28 to $57.80 a barrel after climbing $0.52 to $56.52 barrel last Friday. Meanwhile, after rising $22.80 to $4,387.30 an ounce in the previous session, gold futures are jumping $69.50 to $4,456.80 an ounce.
On the currency front, the U.S. dollar is trading at 157.04 yen versus the 157.75 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.1752 compared to last Friday’s $1.1708.
Business News
U.S. Stocks May See Further Upside In Early Trading
2025-12-22 13:56:27
