US stock futures upbeat after tech rally boosts Wall St; Nvidia in focus

U.S. stock index futures rose on Monday evening after a rally in technology shares boosted Wall Street indexes, with focus now turning to an upcoming address by Nvidia CEO Jensen Huang. 

Futures were upbeat after gains in tech stocks helped Wall Street somewhat recover from a sluggish start to the new year. Nvidia also hit a record high in anticipation of Huang’s address.

S&P 500 Futures rose 0.1% to 6,028.75 points, while Nasdaq 100 Futures rose 0.2% to 21,782.25 points by 18:17 ET (23:17 GMT). Dow Jones Futures rose 0.1% to 43,021.0 points.  Nvidia hits record high ahead of Huang speech 

NVIDIA Corporation (NASDAQ:NVDA ) rose 0.5% in aftermarket trade following a 3.4% rally during Monday’s session, where the stock also briefly hit a record high of $152.15. 

Focus was squarely on an upcoming address by CEO Jensen Huang at the Consumer Electronics Show in Las Vegas, due at 18:30 PT (02:30 GMT). 

Anticipation of Huang’s address helped Nvidia’s shares break out of a trading range seen for a bulk of late-2025, as investors awaited more potential insight into the company’s upcoming Blackwell artificial intelligence chips. 

Huang is also expected to announce Nvidia’s next-generation line of PCE gaming cards.

Nvidia gained around $2 trillion in market capitalization through 2024, as the company further cemented its position as the premiere maker of advanced AI chips. 

The company also acts as a bellwether for the broader tech sector, given its prevalence in the fast-growing AI industry.  Trump comments temper optimism 

Beyond tech, gains in stock markets were somewhat tempered by U.S. President-elect Donald Trump denying media reports that his administration will pursue a less aggressive tariff regime than previously feared. 

Trump denied a Washington Post report that his administration will only target certain sectors in imposing trade tariffs, instead of the broad tariffs promised by Trump during his campaigning. 

Uncertainty over Trump’s policies had also weighed on Wall Street in the beginning of the year, given that he is widely expected to enact expansionary and protectionist policies that could underpin inflation and disrupt global trade. Tech buoys Wall St after weak start to 2025 

Wall Street indexes were buoyed by a broader rally in tech stocks on Monday, which helped them recoup some of their losses from late-December and early-January. 

Tech giants such as Microsoft Corporation (NASDAQ:MSFT ), Amazon.com Inc (NASDAQ:AMZN ), Meta Platforms Inc (NASDAQ:META ) and Alphabet Inc (NASDAQ:GOOGL ) surged between 1% and 5%, and were mostly upbeat in afterhours trade. 

The S&P 500 rose 0.6% to 5,976.90 points on Monday, while the NASDAQ Composite surged 1.3% to 19,867.81 points. The Dow Jones Industrial Average lagged, falling less than 0.1% to 42,706.56 points. 

But Wall Street indexes were still nursing losses amid persistent anxiety over a slower pace of interest rate cuts in 2025, amid sticky inflation and labor market strength. 

Nonfarm payrolls data due this Friday is set to offer more cues.

Source: Investing.com