Aug 17 (Reuters) – Nasdaq and S&P 500 futures rose on Monday, boosted as a strong revenue forecast from AI leader Anthropic supported technology stocks, while investors weighed the prospect of fewer interest-rate hikes against Middle East tensions.
Reuters reported on Friday that Anthropic, which is preparing for its IPO, forecast 2028 revenue of roughly $190 billion to $200 billion, according to two people familiar with the company’s financials.
Most megacap and growth stocks were marginally higher in premarket trading. Amazon and Alphabet added 1.3% and 0.8%, respectively, helping Nasdaq futures.
Chipmakers jumped, with shares of Micron Technology and Broadcom rising 3.5% and 1.2%, respectively.
Tech stocks, particularly chipmakers, have come under pressure in recent months as investors grew concerned about the payoff from companies’ heavy AI investments. A solid second-quarter earnings season also helped push the tech-heavy Nasdaq closer to record highs.
Markets will keep a close eye on results from chipmaker Nvidia, the most valuable company in the world, next week for signs on whether the tech-driven momentum can last.
Nvidia edged up 0.5% after a report said it has scaled back plans to support a proposed OpenAI data center project in Ohio, easing worries about circular financing in the sector.
At 06:20 a.m. ET, Dow E-minis fell 72 points, or 0.13%, S&P 500 E-minis rose 10.75 points, or 0.14%, and Nasdaq 100 E-minis added 148 points, or 0.49%.
Meanwhile, Iran called on the U.S. to accept defeat on Saturday, while President Donald Trump referred to Tehran as “very evil” and told Americans to prepare for continued high fuel prices as a result of the war.
Progress towards peace talks and oil tanker traffic through the strategic Strait of Hormuz remained halted, with no sign the warring parties were moving toward ending the conflict.
A batch of soft inflation data last week along with a surprise decline in retail sales helped traders dial back the odds of an interest-rate hike by the U.S. Federal Reserve at its September meeting.
The lack of forward guidance from Fed Chair Kevin Warsh has meant greater scrutiny of economic data as markets try to guess the central bank’s policy path, while elevated oil prices from the Iran conflict stoke inflation fears.
Traders are pricing in a nearly 31% chance the Fed will hike rates by 25 basis points next month, sharply lower than the near even chances of a hike versus a hold a week ago, according to CME’s FedWatch tool.
Reduced expectations of an imminent rate raise and robust earnings last week saw the benchmark S&P 500 cruise to a fresh record close on Thursday.
Markets will turn to a new round of quarterly results later this week, with retail bellwether Walmart, home improvement retailer Home Depot and chipmaker Analog Devices among the few names left to report in the current earnings season.
So far, 453 companies in the S&P 500 have reported earnings, with 84.8% beating analysts’ estimates, according to LSEG IBES data.
In other movers, U.S.-listed shares of Argentina’s Vista gained 7.1% after Peter Thiel bought a 1% stake in the oil company.
(Reporting by Avinash P in Bengaluru; Editing by Pooja Desai)
