US Futures Point to Gains at the Open
2025-11-24 13:54
By
Joana Taborda
1 min. read
US stock futures traded higher on Monday as markets kicked off a holiday-shortened Thanksgiving week.
S&P 500 futures rose 0.6%, Nasdaq 100 futures gained 0.9%, and Dow Jones futures advanced 140 points, with traders increasing bets on a Fed rate cut next month, following comments from the head of the NY Fed last Friday.
The odd for a 25bps reduction in the fed funds rate currently stand at around 65%.
Investors are also bracing for a busy week of economic data, including retail sales, durable goods orders, and PPI figures.
Alphabet shares jumped nearly 4% in premarket trading after the company overtook Microsoft on Friday to become the third-largest US company by market capitalization.
US-listed shares of Alibaba rose 3.8% after the company said its AI app, Qwen, recorded more than 10 million downloads in its first week after relaunch.
Tesla climbed 1.7% after CEO Elon Musk said the company has already designed several million AI chips for its vehicles and data centers.