US stock futures advanced on Monday ahead of a shortened holiday week, after the major indexes sharply gained in the previous session, as technology stocks outperformed, offsetting tumbling consumer stocks. In Friday’s regular trading, the S&P 500 rose 0.88%, the Nasdaq Composite gained 1.31%, and the Dow climbed 0.38%, with megacaps extending gains from Thursday amid re-ignited optimism around AI-related shares. The market is now waiting to see if tech stocks can maintain their momentum heading into the end of the year, and there is speculation about a potential “Santa Claus rally”. Investors are also eagerly anticipating the release of second estimates for Q3 GDP growth, corporate profits, and industrial production after last week’s data suggested the Fed may cut interest rates further in the coming year.
