Technology stocks look set to be the stars of the festive season as U.S. markets were set for a muted open on Tuesday.
Dow Jones Industrial Average futures were down four points, or less than 0.1%. S&P 500 futures were rising 0.1% and Nasdaq 100 futures were gaining 0.2%. MicroStrategy and Palantir joined the Nasdaq 100 on Monday.
Markets look set to replicate the pattern from the previous day when gains in technology companies drove equity indexes higher. Artificial intelligence appears to still be a favored theme for investors.
“It’s been an AI-driven year, and it appears that’s how it is headed into the year-end,” wrote Louis Navellier, founder of Navellier & Associates.
The yield on the benchmark 10-year Treasury note stood at 4.597% early on Tuesday, broadly flat from the previous day.
The New York Stock Exchange and Nasdaq will close at 1 p.m. ET and stay closed until Thursday for the holidays. The bond market will close at 2 p.m. ET.