US stock futures are expected to edge higher, while Dow futures are lower. In the previous session, all three major US indices rebounded, with expectations for AI-related developments and the situation in the Middle East serving as market drivers.
In the US stock futures market, S&P 500 futures are at 7,835.00, up 1.50, Nasdaq 100 futures are at 30,881.00, up 96.25, and Dow futures are expected to fall by $79.
US stocks were firm in the previous session, with the Dow rebounding to close at 52,048, up $366. The S&P 500 and Nasdaq followed suit, bringing their winning streak to 3 sessions. Expectations for continued progress in AI-related development and lower oil prices on hopes for a US-Iran summit provided buying incentives.
Today’s trading is expected to be marked by limited gains. Progress in discussions on AI and developments in the Middle East are likely to support buying in related sectors, while expectations of further Federal Reserve rate hikes are expected to curb excessive buying. With tomorrow’s PMI expected to fall below the previous reading, concerns over deteriorating business sentiment may intensify.
Investors should watch developments in AI-related projects, the situation in the Middle East and the PMI results.