Nasdaq Futures Surge as Fed Decision Looms Amid Oil Price Slump

Nasdaq futures led gains in premarket US trading on Monday, July 27, as investors braced for a Federal Reserve decision and major technology earnings.

The Nasdaq 100 gained 1.49%, outpacing S&P 500 futures by 0.62 percentage point, which rose 0.87%.

Brent crude dropped 6.3% to $90.60, reducing worries about inflation and lowering the likelihood of a prompt rate hike.

National Australia Bank chief economist Sally Auld stated that when oil prices are above $100, it ‘seems to induce de-escalatory behavior from both sides’.

Airlines and cruise lines shares advanced, with Delta Air Lines up 2.6% and American Airlines rising 3.0%, while leading oil firms declined, including Occidental Petroleum down 3.8% and Exxon Mobil dropping 2.6%.