S&P Futures increased on Monday, marking the beginning of a shortened holiday week, as traders assess the potential for the technology sector to recover before the conclusion of the year. Futures for the Dow Jones Industrial Average increased by 21 points, reflecting a rise of 0.04%. S&P 500 futures increased by 0.3%, while Nasdaq-100 futures rose by 0.5%. Prominent equities associated with artificial intelligence experienced modest increases in premarket trading. Nvidia shares experienced an increase of over 1% in the premarket, while Micron Technology and Oracle saw gains of 3% and 2%, respectively.

Market has concluded a week characterized by mixed performance among the major averages. A late-week surge in technology equities contributed to the S&P 500 and Nasdaq Composite achieving their third consecutive week of gains in four, rising by 0.1% and 0.5%, respectively. The 30-stock Dow, having shown strong performance earlier this month, experienced a decline of 0.7%, thereby ending its three-week winning streak. AI stocks experienced a notable rebound last week following a period of relative underperformance.

Oracle’s shares, previously underperforming, experienced a notable increase following TikTok’s decision to divest its U.S. operations to a newly formed joint venture that encompasses both the software company and private-equity firm Silver Lake. Nvidia has also experienced a resurgence. Investors are closely monitoring the ability of AI stocks to maintain their leadership position as the year concludes, particularly in light of a shift towards more affordable segments of the market due to apprehensions regarding elevated valuations in the technology sector.

Doubts persist regarding the potential for a “Santa Claus rally,” particularly as the S&P 500 faces challenges in maintaining a crucial technical threshold. “My view a couple of weeks ago was an end of year grind,” stated Justin Bergner. “I believe this has resulted in a year-end turnover.” The New York Stock Exchange is set to close early on Wednesday at 1 p.m. in observance of Christmas Eve, with a complete closure on Thursday for Christmas Day.