US Stock Market Outlook: AI Boosts Nasdaq Futures; Chip Stocks Surge Ahead

Written by Michael A. Johnson, Lead Editor & Market Strategist

Global Market Overview

On Monday morning, optimism surrounding artificial intelligence overshadowed concerns about the situation in Venezuela, leading to a continued rise in global stock markets.

US Futures Performance

All three major US stock index futures rose, with the Nasdaq futures up 0.75% and the S&P 500 futures increasing by 0.35%.

Tech Stocks Surge

Prominent tech stocks saw a collective pre-market increase, particularly in the semiconductor sector:

Intel rose over 4%
Micron Technology and ASML increased by more than 3%
TSMC and AMD gained nearly 3%
Nvidia and Tesla both rose about 1.5%

Chinese Stocks and Oil Sector Reaction

Most popular Chinese stocks weakened in pre-market trading, with Xpeng Motors down nearly 3%, Baidu and NIO falling over 2%, and JD.com and Alibaba experiencing slight declines.

In response to the Venezuelan situation, US oil stocks and natural gas equipment and services stocks surged in pre-market trading. Notable gains included:

Chevron (CVX) up nearly 7%
ConocoPhillips (COP) up 6%
ExxonMobil (XOM) up nearly 4%

The oil and gas equipment and services sector also saw strong performance, with:

Schlumberger (SLB) and Halliburton (HAL) both rising about 9%
Baker Hughes (BKR) increasing over 6%

Political Context

This market movement follows comments from former President Trump, who stated that the US plans to "take over" Venezuela after attempting to overthrow Nicolás Maduro's regime over the weekend.

About the author

Michael A. Johnson

Michael A. Johnson, Ph.D. in Economics from Harvard University, brings 20 years of expertise in market forecasting and trading strategies. As a former chief economist at Morgan Stanley, he oversees Intellectia’s Top News section, delivering data-driven perspectives on global economic shifts.