(Bloomberg) — Wall Street was poised to open near record highs on Monday, as investors looked past the inflation implications of a commodity rally and wagered interest-rate cuts will remain on the cards this year.
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Contracts on the Nasdaq 100 rose 0.3% and those on the S&P 500 were 0.2% higher. One of the biggest features of this week is Wednesday’s earnings release from artificial intelligence bellwether Nvidia Corp. which has driven a major chunk of the S&P 500’s gains in 2024 and comprises 5% of its market value. Nvidia shares rose about 1.5% in premarket trading, while other chipmakers including Micron Technology Inc. also advanced.
In Europe, equities got a boost from record-high prices for copper and gold. The Stoxx Europe 600 Index hovered near a record high, led by mining stocks including Glencore Plc and and KGHM SA.
Copper surged to its highest-ever level, lifting futures on the London Metal…
