Wall St set to open higher as AI enthusiasm eases worries over higher oil prices, yields
SPY•U.S. stock futures rose, with the Dow and S&P 500 up 0.27% and Nasdaq 100 futures up 0.46%, as AI optimism offset concerns about oil prices and Treasury yields. Brent crude was above $100 a barrel and the 10-year Treasury yield was 5.1%.
1. Futures move higher
Wall Street’s main indexes were set to open higher, with chip stocks leading premarket gains. Advanced Micro Devices, Marvell and Cerebras each rose more than 1%, while Tesla, Nvidia and SpaceX edged up.
2. Company and economic news
Akamai Technologies surged 12% after an $11.6 billion cloud services deal with Anthropic. Meta was less than 1% from a $2 trillion market value after a five-week rally, though its shares dipped 1% premarket. August durable goods orders were flat, versus economists’ expectations for a 0.4% decline, and traders saw a 69% chance of a Federal Reserve rate increase of at least 25 basis points in October.
