Tech Sector Leads Gains as Traders Prepare for Winning Month

Stock futures are little changed as traders prepare to wrap up a winning month. The Dow is on pace for its fifth consecutive monthly advance, while the S&P 500 and Nasdaq Composite aim for their first one-month increases since May.

The tech sector has led the charge this month, with artificial intelligence-linked stocks outperforming. Nvidia has climbed over 8%, Microsoft advanced 11%, and Micron Technology rose 13%.

However, inflation fears have sent Treasury yields to multiyear highs. The Treasury Department attempted to stem the rout by increasing debt repurchases, but yields along the long end of the curve remain elevated.

Federal Reserve Chairman Kevin Warsh expressed concern about inflation, stating that 'while this summer's readings were better than expected, they do not tell me that underlying trends have meaningfully improved.'