US stock futures rose on Tuesday, signaling a rebound after three days of losses and a continuation of Wall Street's strong rally in 2024. S&P 500 and Nasdaq 100 futures rose 0.4%, while Dow Jones futures rose 75 points.
The S&P 500 is on track to post a strong gain of about 27% for the year, driven by factors including anticipated interest rate cuts, strong corporate earnings and significant investments in artificial intelligence (AI). Companies such as Palantir Technologies and Nvidia are leading the way with triple-digit gains.
The Dow Jones is also performing well, up about 14.4% for the year, buoyed by positive US economic data, strong consumer spending and improvements in global trade relations.
The Nasdaq Composite is outperforming both, with an impressive 34% surge. The tech-heavy index has benefited from innovations in AI, cloud computing and biotechnology.
Source: Trading Economics
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