Stock Futures Rise Amid AI and Crypto Gains

Stock futures are rising this morning as oil prices and government bond yields retreat. The tech-heavy Nasdaq is leading the charge, up 1.1% in premarket trading, while futures linked to the Dow Jones Industrial Average and S&P 500 added 0.9% and 0.7%, respectively.

The AI trade is off to a strong start this week, with chipmakers such as Nvidia, Intel, Advanced Micro Devices, Micron, and Sandisk gaining ground after closing out last week on a high note. Worries about a potential slowdown in AI development appear to have eased, following comments from CEOs calling for a slowdown due to safety concerns.

Crypto stocks are also rallying as Bitcoin climbs to its highest point since January. The price of Bitcoin is now at $85,000, up from a low last week of around $75,000. Strategy, the largest single corporate holder of Bitcoin, was up 6% before the bell after soaring 16% on Friday.