US stock futures held steady on Monday as investors awaited a busy week of corporate earnings that could determine whether the recent tech rally extends further.
Nvidia and CrowdStrike are set to report results on Wednesday, followed by Dell and Marvell on Thursday.
Attention will also turn to Friday’s release of the July personal consumption expenditures price index, the Federal Reserve’s preferred inflation gauge.
On Friday, Wall Street posted strong gains, with the Dow Jones Industrial Average climbing 1.89%, the S&P 500 rising 1.52%, and the Nasdaq Composite advancing 1.88%.
The rally came after Fed Chair Jerome Powell signaled during his Jackson Hole speech that the central bank could begin easing monetary policy as soon as next month.
Markets now assign an 87% probability of a 25 basis point rate cut in September, up from around 75% at some point last week.
