US stock market futures were on the rise today, extending the market’s rally. Major US indices continue to reach new highs, buoyed by positive company earnings.
In the technology sector, particularly the semiconductor industry, stocks were rallying following ASML reports of better-than-expected results and continued optimism around AI. Companies like Nvidia and AMD also recorded gains.
The communication services sector was also among the top performers, driven by Netflix’s strong results. The company’s record-breaking subscriber growth led to a more than 10% increase in its stock in premarket trading.
Investors could continue to monitor the health of the US economy and turn their attention to the upcoming data on GDP growth tomorrow and PCE data on Friday.
Both releases could have a substantial impact on expectations over the Federal Reserve’s monetary policy and interest rate cuts.