US pre-open: Futures trade higher ahead of Christmas break

(Sharecast News) - Wall Street futures were in the green ahead of the bell on Monday in quiet pre‑holiday trade ahead of this week's Christmas break. As of 1230 GMT, Dow Jones futures were up 0.11%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.36% and 0.57% firmer, respectively.

The Dow closed 183.04 points higher on Friday as a surge in tech stocks helped buoy both the S&P 500 and Nasdaq Composite.

Tech was again at the centre of attention prior to the open on Monday, as investors continued to rotate back into growth names after last week's softer inflation data helped revive hopes of a year‑end "Santa Claus rally". Sentiment was also supported by strength in major tech movers, with chipmakers among the early gainers in pre‑market dealing.

Markets will be watching for any final data points before the holidays, particularly as traders weigh whether the recent rebound in tech represents the start of another momentum leg or a late‑cycle stretch reminiscent of previous boom‑and‑bust periods.

Saxo's Neil Wilson said: "Investors are looking for whether the Santa Rally emerges this year or not - at stretched valuations, AI capex worries and a bit of internal damage it could be tougher but a slow grind up could yet materialise. We might see more of a Yule Rotation than anything else."

On the macro front, the Chicago Federal Reserve's September national activity index will be published at 1330 GMT.

No major corporate earnings were slated for release on Monday.









Reporting by Iain Gilbert at Sharecast.com