U.S. stock futures edged higher overnight after the Nasdaq Composite closed Monday at an all-time high. As of 10:22 p.m. EDT Monday, Dow futures were up 0.15 percent, S&P 500 futures up 0.09 percent and Nasdaq-100 futures up 0.07 percent. The Nasdaq closed Monday up 1.05 percent at 27,477.31, the Dow up 0.18 percent at 51,267.90 and the S&P 500 up 0.66 percent at 7,773.95, with AI demand driving the rally — Nvidia and Broadcom each rose more than 2 percent, Meta and Microsoft more than 1 percent.
SpaceX jumped more than 7 percent Monday on reports it is eyeing a natural gas pipeline in Florida to fuel Starship launches, alongside its long-term AI ambitions. Novavax soared roughly 20 percent, lifted by sympathy with Sanofi's fall-season Nuvaxovid COVID vaccine rollout and Vaxcyte's positive pneumonia-vaccine trial results. Constellation Energy rose more than 3 percent overnight on a report it is close to a multi-year power deal with Alphabet valued at about $1 billion. USA Rare Earth also climbed overnight on its supply-chain ambitions and the appointment of Thras Moraitis as CEO.
The macro backdrop for Tuesday: the 10-year Treasury yield at 5.313 percent, the 30-year at 5.67 percent, Federal Reserve minutes due Wednesday, Brent crude around $100.66 a barrel and WTI at $89.61. Asian markets opened mixed Tuesday, with Japan, China and Australia higher and South Korea's KOSPI in the red.
This is a report of disclosed market news, not investment advice.
