US stock futures climbed on Monday, led by technology shares, as another drop in oil prices pulled Treasury yields lower and revived appetite for risk after a volatile week of central-bank tightening.
Nasdaq 100 futures rose about 1.1%, S&P 500 futures gained 0.6% and Dow futures advanced 414 points, or 0.8%. Brent crude fell more than 2% towards $102 a barrel, while the 10-year Treasury yield eased to around 4.96%.
Investors are also preparing for a heavy week of Federal Reserve commentary and Thursday’s meeting between President Donald Trump and Chinese President Xi Jinping, with AI, trade and geopolitics all on the agenda.
5 things to know before Wall Street opens
1. AI stocks are leading the rebound
The strongest premarket move is back in the AI complex. Intel jumped more than 5%, Marvell gained about 2.5%, Meta rose more than 2% and Dell advanced nearly 3%.
Accenture climbed around 6% after announcing a five-year AI safety partnership with Anthropic worth a combined $2 billion.
The moves suggest last week’s concern about a potential slowdown in AI development has not translated into weaker spending expectations.
Gabelli Funds portfolio manager Hendi Susanto told MarketWatch that infrastructure demand still appears stronger than supply, with customers continuing to secure multiyear hardware commitments.
2. Oil is giving Wall Street relief
Brent fell more than 2% to around $102 a barrel, while WTI moved below $99 as Saudi exports recovered and hopes for diplomacy with Iran increased.
That matters well beyond energy stocks. The recent oil surge had helped push inflation expectations and Treasury yields higher, tightening financial conditions for equities.
The 10-year yield eased to about 4.96% on Monday from above 5% last week, reducing some of the valuation pressure on growth shares.
3. Trump and Xi move into focus
Thursday’s Trump-Xi summit is becoming the week’s biggest geopolitical event for markets.
Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held preparatory talks in New York over the weekend, including discussions on trade, rare earths and a proposed AI safety notification mechanism.
The meeting could matter directly for technology shares because Washington and Beijing remain divided over advanced chips and AI controls.
A more stable framework would reduce one source of uncertainty hanging over semiconductor supply chains.
4. Bitcoin strengthens the risk-on signal
Bitcoin traded above $85,000 after closing above its 50-week moving average for the first time in about 10 months. Coinbase rose around 5% before the bell, while Strategy gained more than 7%.
Crypto is not driving the equity rally, but the move reinforces the broader improvement in risk appetite as oil and bond yields retreat.
5. Fed speakers could reshape October rate bets
The Fed’s first hike in more than three years is now behind investors, but the policy debate is not.
Several officials are due to speak this week, with markets still split over whether another quarter-point increase arrives in October or December.
ING strategist Francesco Pesole told The Wall Street Journal that stronger US data could push investors to price more October tightening.
That makes every inflation, labour-market and Fed communication important for the next leg in Treasury yields and, by extension, equity valuations.
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