British News Agency

Futures linked to the Dow Jones Industrial Average rose 13 points, or less than 0.1 percent. S&P futures gained around 0.1 percent, while Nasdaq 100 futures climbed more than 0.1 percent.

Stocks posted strong gains on Monday, starting the shortened trading week on a positive note. The S&P 500 gained about 1.6 percent in the previous session. The Nasdaq Composite jumped 2.7 percent, marking its best day since May 12 as major tech companies rebounded after a challenging month. The Dow Jones Industrial Average closed up roughly 203 points, or 0.4 percent.

Alphabet, Google’s parent company, was the top performer among the “Magnificent Seven” (Alphabet, Amazon, Apple, Meta Platforms, Microsoft, NVIDIA and Tesla), ending the day up 6.3 percent.

Chipmaker Broadcom was the biggest gainer in the S&P 500 after its shares surged more than 11 percent. Investors supported both companies, whose businesses are connected through high-performance specialized chips. Nvidia, which had fallen nearly 10 percent this month despite strong AI demand, gained about 2 percent.

Although stocks made a modest attempt to recover following last week’s sell-off, all three major U.S. indices continue to post monthly losses. AI-related stocks make up a significant portion of this year’s gains, and investors are questioning whether the market will see a year-end rally or a reversal in momentum.

The S&P 500 is down about 2 percent in November, the Nasdaq has fallen 3.6 percent, and the Dow has dropped 2.3 percent since the beginning of the month.

Investors are also monitoring any news that could influence the Fed’s upcoming monetary policy decision. According to the CME FedWatch Tool, markets are pricing in an over 80 percent chance of a quarter-point rate cut in December.

This probability has risen quickly since New York Fed President John Williams said Friday that there is “room for a rate cut in the short term.” San Francisco Fed President Mary Daly told the Wall Street Journal on Monday that she supports a rate cut due to labor market concerns.

The stock market will be closed Thursday for Thanksgiving and will close early Friday at 1:00 p.m.