US Stock Index Futures Rise as Microsoft Gains on AI Research Team News

According to Yahoo News, U.S. stock index futures experienced a slight increase on Monday, following a rally in the previous week driven by speculation that U.S. interest rates had reached their peak. Microsoft shares rose 2.4% before the bell, outpacing other megacap stocks, due to the announcement that former OpenAI head Sam Altman will join the company to lead a new advanced AI research team. Microsoft CEO Satya Nadella confirmed Altman's appointment. Other megacap stocks showed mixed results, with Nvidia gaining 0.6% and Alphabet falling 1.1%. The three main U.S. stock indexes have seen a strong rebound in November, with the S&P 500 now only 2% away from its highest level this year, reached in July. Traders have almost entirely priced in the likelihood that the Federal Reserve will maintain interest rates in December, with a 60% chance of a 25 basis point rate cut in May, according to the CME Group's FedWatch tool.