Stock market today: Nasdaq leads S&P 500, Dow futures higher as tech jitters ease, oil slips

Techs led US stock futures higher on Monday in a relief of pressure on the sector, as oil prices fell and investors waited for data releases for clues to the economy and rate-hike odds.

Contracts on the tech-heavy Nasdaq 100 (NQ=F) jumped 1%, while those on the S&P 500 (ES=F) put on 0.4%. Dow Jones Industrial Average futures (YM=F) were little changed on the heels of a record-setting though holiday-shortened week for the blue-chip benchmark.

Tech stocks are helping to drive gains, hinting at a return of faith in the AI trade after the late-June slump in chip stocks. On Sunday, Nvidia (NVDA) supplier Hon Hai (2317.TW, HNHAF), also known as Foxconn, reported a stronger-than-expected rise in quarterly sales, a sign of sustained AI demand.

That has put the spotlight on quarterly results from Samsung Electronics (005930.KS, SSNLF), due on Tuesday. The world’s biggest maker of memory chips is expected to post an 18-fold jump in profit year-on-year, far outstripping its total for all of 2025.

JPMorgan strategists have said the AI supercycle will play a part in sending the S&P 500 (^GSPC) higher this year, as they raised their target for the benchmark, but cautioned the path to getting there won’t be a straight line.

Meanwhile, oil prices fell after the OPEC+ group of major producers agreed to raise output targets, and flows revived through the reopened Strait of Hormuz. That eased worries over knock-on inflationary pressures.

On the macro front, eyes are on Monday’s batch of US services data for insight into the economy, after a disappointing June jobs report reset expectations for interest rates. That sets the stage for the release of minutes from the Federal Reserve’s first meeting with Kevin Warsh at the head, due on Wednesday.