US stock futures rose on Monday as investors search for fresh catalysts in the second half of 2024.

Wall Street wrapped up the first half on a strong note, with the S&P 500 and Nasdaq Composite rallying 14.5% and 18.1%, respectively.

The Dow also gained 3.8%.

Those moves came as market enthusiasm over artificial intelligence drove a strong rally in Nvidia and other technology stocks, supported by interest rate cut expectations from the Federal Reserve.

Meanwhile, traders turned cautious towards that end of June amid fears that PE multiples have reached extended levels.

On Friday, the Dow fell 0.12%, the S&P 500 lost 0.41% and the Nasdaq Composite tumbled 0.71%.

Mega-cap tech names led the selloff, with sharp losses from Apple (-1.6%), Amazon (-2.3%) and Microsoft (-1.3%).

Nike also plunged 20% after issuing a weak forecast. Investors now look ahead to US manufacturing PMI data on Monday for more insight on the economy.

See Also :