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Stock futures rose Monday following a mixed week on Wall Street amid a big rotation out of tech and into parts of the market trading at lower valuations. Traders also braced for a slew of U.S. economic data reports ahead this week.
Futures for the Dow Jones Industrials catapulted 223 points, or 0.5%, to 49,083.
Futures for the S&P 500 acquired 31.25 points, or 0.3%, to 6,921.75.
Futures for the NASDAQ gained 126.5 points, or 0.5%, to 25,595.
Those moves come after the S&P 500 and NASDAQ Composite fell last week, as Oracle and Broadcom led a rotation away from artificial intelligence.
The S&P 500 lost 0.6% last week, while the NASDAQ shed 1.7%. The Dow, which is less exposed to tech and AI than the other two benchmarks, rose 1.1%.
Oracle plunged 12.7% for the week, while Broadcom shed more than 7%. The S&P 500 tech sector dropped 2.3%.
Broadcom tried to regain some of the losses suffered last week, climbing 0.7% in the premarket Monday.
Economic data reports could set the tone for the market in the week ahead.
November non-farm payrolls figures are set for release Tuesday, along with October retail sales figures. These reports were delayed due to the U.S. government shutdown that took place in the fall.
The November consumer price index is due out on Thursday.
Overseas, the Nikkei 225 in Japan folded 1.3% Monday, while in Hong Kong, the Hang Seng Index let go of 1.3%.
Oil prices erased 0.24 cents to $57.20
Gold prices brightened $49.50 to $4,377.80.
