Stock markets in the U.S. are expected to open quietly after a strong rally, with a focus likely on Nvidia and the potential impact of the excitement over artificial intelligence technology.
After a strong rise during the day, US stock markets were expected to open calmly on Friday. It is anticipated that attention will continue to be drawn to the chip maker Nvidia and the possible size of the rally spurred by enthusiasm for artificial intelligence technologies.
Today's futures for the Dow Jones Industrial Average were up 2 points, or less than 0.1%. While Nasdaq 100 futures were down 0.2%, S&P 500 futures were unchanged. On Thursday, the S&P 500 reached a new closing high record.
Thanks to Nvidia, technology stocks will remain in the spotlight as they have led this year's surge, especially considering the gains made the day before. That could be countered, though, by the response to recent remarks made by Federal Reserve officials downplaying the possibility of interest rates decreasing shortly.
According to Greg Marcus, managing director of UBS Private Wealth Management, who pointed out in a research note that more and more stocks this year have surpassed the S&P 500, the market is still narrow but wider than it was a year ago. This market will grow significantly if the Federal Reserve lowers interest rates.
Early on Friday, the benchmark 10-year Treasury note yield was 4.347%, a slight increase from the previous day.
