U.S. Stock Futures Rise on Government Spending Bill and Cooling Inflation

U.S. stock index futures edged higher at the start of the week, buoyed by optimism surrounding a recent government spending bill that prevented a shutdown and signs of cooling inflation. According to Reuters, the U.S. Congress passed the bill just in time to avert disruptions to various sectors, including law enforcement and national parks, ahead of the holiday season.

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Despite Wall Street facing some challenges earlier this month after the Federal Reserve revised its forecast for rate cuts in 2025, a recent inflation report has alleviated concerns, enabling U.S. stock indexes to recover. The data also indicates that money markets anticipate around two 25-basis-point cuts in 2025, potentially adjusting the benchmark rate to a range of 3.75% to 4.0%.

As of early Monday, trading activity reflected positive sentiment, with Dow E-minis up by 31 points, S&P 500 E-minis rising 15.5 points, and Nasdaq 100 E-minis climbing 97.75 points. Notably, Qualcomm’s shares increased by 3% following a legal victory concerning its processor licenses, while Apple’s stocks saw a modest 0.5% rise en route to a near $4 trillion market cap.

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In a separate development, Rumble’s shares skyrocketed by 47.3% after securing a $775 million investment from cryptocurrency company Tether. Looking ahead, trading volumes are expected to decrease with the holiday-shortened schedule, but historical data suggests that markets often perform well during the so-called “Santa Claus Rally” period.

The S&P 500 has garnered an impressive 24.3% rise in 2024, the Dow has gained 13.7%, and the Nasdaq has spectacularly surged 30.4%, according to IndexBox platform insights.

Source: IndexBox Market Intelligence Platform