Nasdaq futures gained Monday following a holiday-shortened week, with AI-tied shares driving the rally. Futures for the Nasdaq 100, S&P 500, and Dow Jones Industrial Average experienced increases of 1.1%, 0.5%, and 0.1%, respectively, in the latest trading session. Major indexes concluded the trading session on Thursday with mixed results, marking their last day of activity before the Independence Day holiday. While technology stocks faced some downward pressure, each index managed to achieve an approximate gain of 2% for the week. The blue-chip Dow Jones Industrial Average achieved both intraday and closing records, increasing by 1.1%, which translates to nearly 600 points.

Stocks associated with AI showed an upward trend at the start of the week following a decline on Thursday. Sandisk shares, which plunged 14% to lead decliners on both the S&P 500 and Nasdaq in the last session, rebounded 4% before the bell, while Intel and Micron Technology were up a respective 3.5% and 2% after each fell more than 5% Thursday. The Roundhill Memory ETF experienced an increase of nearly 7% subsequent to a 9% decline, whereas the iShares Semiconductor ETF saw an uptick of almost 3% following a 6% drop.

All of the Magnificent Seven mega-cap tech stocks, with the exception of Apple, experienced gains in premarket trading. Shares of Tesla, which sank more than 7% Thursday even as Elon Musk’s EV company reported stronger-than-anticipated deliveries, were up about 1.5%. Oil prices experienced a decline following the announcement from OPEC+ regarding an increase in output targets by 188,000 barrels per day, effective next month. West Texas Intermediate futures, the U.S. benchmark, declined 0.6% to $68.30, while global benchmark Brent crude futures slipped 0.6% to $71.70 per barrel.

The 10-year Treasury yield, a key determinant of interest rates across a range of consumer loans such as mortgages, registered below 4.47%, reflecting a decline of more than two basis points from Thursday’s closing value. Bitcoin was around $62,900, reflecting a modest increase over the past 24 hours. The U.S. dollar index, which monitors the value of the greenback relative to a selection of foreign currencies, registered an increase of 0.2% at 101.09. Gold futures increased by 0.9%, reaching a price of $4,160 per ounce.