Nasdaq Futures Tick Higher as Microsoft Gains and Investing in Fed Interest Rate Cut Speculation
By Amruta Khandekar and Shristi Achar A
The Nasdaq index’s futures ticked higher on Monday as Microsoft’s stock rose on news that the former OpenAI head, Sam Altman, is set to join the software giant. Investment circles are abuzz with possibilities of future Federal Reserve interest rate cuts as the three major U.S. stock indexes have posted gains in the past three weeks.
Microsoft’s Shares Surge as Sam Altman Joins the Software Conglomerate
Microsoft’s stock MSFT.O surged 2% pre-market on Monday with the news of Sam Altman joining the software giant. As the new head of advanced AI research at Microsoft, Altman’s wealth of experience in the tech industry is expected to bolster the software giant’s bottom line.
Other MegaCap Stocks Split
Other stocks in the ‘magnificent seven’ – the seven biggest megacaps stocks – fluctuated on Monday. Nvidia NVDA.O rose 0.6%, while Alphabet GOOGL.O dropped 0.8%.
1. Sam Altman Takes The Reins at Microsoft: How Will It Affect the Nasdaq?
2. Nasdaq Futures Soar As Microsoft Hires OpenAI Head – Here’s Why
3. Sam Altman Joins Microsoft: Can Fed Interest Rate Cuts Increase Nasdaq Returns?