US Stock Futures Rise Amid AI Spending and Trump's Economic Policies
US stock futures traded sideways as the market weighed concerns over Big Tech's AI investments and the impact of President Trump's trade policies.
Nasdaq-100 (NQ=F) futures edged up slightly by 0.08%, while S&P 500 (ES=F) futures gained 0.09%. Dow Jones Industrial Average (YM=F) futures jumped 0.11%.
Big Tech Earnings
Alphabet (GOOGL) shares fell after its earnings report showed a decline in cloud revenue. However, Nvidia (NVDA) benefited from increased AI spending by tech giants, with its stock rising 6% during the day. Amazon (AMZN) is scheduled to report earnings on Thursday, drawing investor attention.
Trump's Tariffs
Trump's tariffs continued to affect US businesses. Ford (F) shares declined in after-hours trading due to concerns over the impact of tariffs on its industry. Chipotle (CMG) also highlighted its tariff exposure.
Federal Reserve Policy
Fed officials reiterated their "wait-and-see" approach to interest rates, citing concerns about inflation fueled by tariffs. Treasury Secretary Scott Bessant indicated that the focus would be on lowering 10-year Treasury yields rather than cutting interest rates.
Gold Surge
Gold (GC=F) hit record highs for the fifth consecutive day, reaching $2,885 per ounce. Demand surged as investors sought stability amid trade war uncertainties.