U.S. stock index futures are pointing to a positive start for Wall Street on Monday, with equities set to build on last Friday’s rebound.
Technology and artificial intelligence names look to be leading the way. Nvidia (NASDAQ:NVDA) is up 1% in premarket trading, while Oracle (NYSE:ORCL) is gaining 0.9% after several sessions of weakness.
Electronic Arts (NASDAQ:EA) is seeing the biggest premarket jump, soaring 5.4% after announcing it will be acquired by a consortium of investors including PIF, Silver Lake, and Affinity Partners in an all-cash deal valued at roughly $55 billion. The transaction will provide shareholders with $210 per share, a 25% premium over EA’s pre-deal closing price of $168.32 on September 25.
Still, investor enthusiasm may be tempered by caution ahead of the Labor Department’s September jobs report due Friday. Economists expect 50,000 new jobs, following a 22,000 gain in August. The results could influence expectations for Federal Reserve rate policy.
Concerns over a possible U.S. government shutdown are also hanging over the market, with lawmakers facing a funding deadline on Tuesday.
Friday’s session ended on a strong note, with the Dow rising 299.97 points, or 0.7%, to 46,247.29. The S&P 500 gained 38.98 points, or 0.6%, to 6,643.70, while the Nasdaq added 99.37 points, or 0.4%, to 22,484.07. Despite the rebound, all three indexes still closed the week in the red.
Part of the late-week strength came from a Commerce Department report showing the Personal Consumption Expenditures (PCE) price index rose 0.3% in August, matching forecasts. Core PCE, which strips out food and energy, increased 0.2%. Year-over-year, PCE inflation edged up to 2.7% while core inflation stayed at 2.9%, in line with expectations. The data reinforced confidence that the Fed will continue cutting rates in the coming months.
Elsewhere, President Donald Trump announced new tariffs on Truth Social, including a 100% levy on pharmaceuticals not manufactured in the U.S., a 25% duty on heavy trucks, and a 50% tariff on kitchen cabinets and bathroom vanities, set to take effect October 1.
Commodity-linked sectors also saw a boost Friday. Gold miners rallied as bullion prices surged, sending the NYSE Arca Gold Bugs Index up 2.5% to its best level in over 13 years. Rising crude oil prices lifted oil service stocks, with the Philadelphia Oil Service Index climbing 1.6%. Utilities, housing, steel, brokerage, and natural gas stocks also posted solid gains.
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