America News Agency

Futures tied to the Dow Jones Industrial Average traded slightly below the flat line. S&P futures rose less than 0.1 percent, while Nasdaq 100 futures gained more than 0.1 percent.

Nvidia climbed more than 2 percent on Monday evening after a Truth Social post stated that the chipmaking giant would be allowed to ship its H200 chips to China and other countries’ “approved customers,” provided that one-quarter of the sales revenue is paid to the U.S. government. Trump wrote that Chinese President Xi Jinping had responded “positively” to the deal. Nvidia CEO Jensen Huang met with Trump last week, and the agreement was seen as a victory for the tech giant after months of trade negotiations.

Tech stocks led the gains in Monday’s trading session. Of the 11 sectors within the S&P 500, technology was the only one to close in the green, supported by gains from several semiconductor companies. Broadcom shares rose nearly 3 percent, while Nvidia and Microsoft each gained around 2 percent following a report by The Information that Microsoft was considering designing custom chips with Broadcom.

Meanwhile, the three major U.S. stock indexes fell in the previous trading session, while the yield on the 10-year Treasury continued to rise amid ongoing concerns about persistent inflation.

Investors are eagerly awaiting the U.S. Federal Reserve’s final interest rate decision of the year, to be announced on Wednesday. Markets are betting that the Fed will cut the overnight interest rate by another quarter point, as it did in its September and October meetings. According to analysts, Fed funds futures show an 89 percent probability of a rate cut, up from below 67 percent about a month ago.

Core personal consumption expenditure price index data for September, released on Friday, came in below expectations, giving momentum to stocks last week. The three major U.S. stock indexes all closed higher for the second consecutive week.