Stocks looked set to rise on Monday, as investors took the market’s recent pullback as an opportunity to load up on tech ahead of a slew of economic data and chip maker Nvidia’s quarterly earnings.
Futures tracking the Dow Jones Industrial Average were up 123 points, or 0.3%, and S&P 500 futures climbed 0.6%. Contracts tied to the Nasdaq jumped 1%, after the tech-heavy gauge notched its biggest daily comeback since April to close out last week.
Stocks have been struggling for direction, with investors questioning lofty artificial-intelligence valuations. But some market participants see the drawdown as a buying opportunity ahead of AI bellwether Nvidia’s results, due after Wednesday’s closing bell.
