Stock Futures Point Higher to Start Holiday-Shortened Week as Tech Shares Continue Advance; Gold, Silver Hit Record Highs

Stock futures rose to start the holiday-shortened week, with tech shares continuing their advance after a strong end to last week. 

Nasdaq 100 futures were up 0.5%, while those associated with the S&P 500 and Dow Jones Industrial Average advanced 0.4% and 0.1%, respectively.

Major stock indexes closed sharply higher for a second straight session Friday, with AI-related shares again leading the charge as risk appetite returned to the market. The tech-heavy Nasdaq and benchmark S&P 500 closed slightly higher for the week, while the blue-chip Dow Jones Industrial Average ended 0.7% lower over the five days.

Shares of AI-tied firms Micron Technology (MU), Oracle (ORCL), Advanced Micro Devices (AMD), and Nvidia (NVDA) led indexes higher the past two sessions and were rising a respective 3%, 2%, 1%, and 1% further before the bell Monday.

Gold futures set a new all-time high of $4,453 an ounce early Monday and recently were up 1.3% to about $4,445. Silver futures also set a new record high Monday of more than $69.50 per ounce, and recently were more than 2% higher at around $69.00.

West Texas Intermediate futures, the U.S. crude oil benchmark, gained 1.6% to $57.45 a barrel on rising U.S.-Venezuela tensions.

Bitcoin was trading around $89,800, up from overnight lows of roughly $87,900. The U.S. dollar index, which tracks the value of the greenback against a basket of foreign currencies, ticked lower to 98.49.

The 10-year Treasury yield, which influences interest rates on a variety of commercial and consumer loans, rose to 4.17% from Friday’s close of around 4.14%.