A trader works on the floor of the New York Stock Exchange on Aug. 4, 2022.<\/p>\n
Source: NYSE<\/p>\n
Stock futures rose on Monday as Wall Street tried to regain its footing after a week in which the artificial intelligence trade lost some steam.<\/p>\n
Futures tied to the Dow Jones Industrial Average<\/a> popped 171 points, or 0.4%. S&P 500<\/a> and Nasdaq-100 futures<\/a> climbed 0.5% and 0.6%, respectively.<\/p>\n AI-related stocks Oracle<\/a> and Nvidia<\/a> rose after skepticism around the artificial intelligence trade put pressure on the broader stock market. Some traders even questioned whether there was enough energy <\/a>to power an infrastructure plan between Nvidia and OpenAI<\/a>. Nvidia and Oracle each rose around 1% in the premarket.<\/p>\n Meanwhile, shares of Electronic Arts<\/a> jumped more than 5% after the video game company announced that it’s going to be taken private in a $55 billion deal<\/a>. U.S. M&A announced has surpassed $1 trillion year-to-date so far this year, up 29% from the same time a year ago, according to Goldman Sachs.<\/p>\n U.S. stocks slipped last week as cracks appeared in a key pillar of the bull market rally \u2014 enthusiasm surrounding artificial intelligence buildout. The S&P 500 saw its worst weekly performance since Aug. 1, and now sits 0.8% off its record high. The Nasdaq recorded its weakest week since early August, and the Dow posted first loss in three weeks.<\/p>\n “The\u00a0narrative shifted modestly last week in a negative direction\u00a0as investors\u00a0questioned two key assumptions\u00a0underpinning the rally: the\u00a0sustainability of the AI infrastructure boom\u00a0and the\u00a0inevitability of an aggressive Fed easing cycle,” Adam Crisafulli, founder of Vital Knowledge, said in a note.<\/p>\n All eyes are are watching for a possible shutdown of the federal government as this week’s funding deadline looms. Over the weekend, President Donald Trump told NBC News<\/a> that mass firings of federal workers could take place if a shutdown is not averted by Congress.<\/p>\n “We are going to cut a lot of the people that … we’re able to cut on a permanent basis,” he said, adding that he’d “rather not do that.”<\/p>\n