Futures higher, FAA recommends more Boeing safety checks - what's moving markets

investing.com:

Investing.com -- U.S. stock futures gain on Monday, in a possible sign of ongoing upward momentum after a tech-fueled surge in equities last week. The U.S. aviation authority recommends new safety checks on Boeing (NYSE:BA) planes that have similar features to a jet model involved in a mid-air door plug breach earlier this month. Sony (NYSE:SONY) pulls the plug on a mega-merger with India's Zee Entertainment, sparking a potential legal battle.

1. Futures inch higher

U.S. stock futures edged into the green on Monday, pointing to a continuation in an artificial intelligence-powered rally that pushed the benchmark S&P 500 up to its first record high close in two years in the prior session.

By 05:17 ET (10:17 GMT), the S&P 500 futures contract had added 14 points or 0.3%, Nasdaq 100 futures had gained 95 points or 0.6%, and Dow futures had climbed by 53 points or 0.1%.

The main averages on Wall Street all ended Friday more than 1% higher, fueled by an upgraded second-quarter profit forecast from server maker Super Micro Computer (NASDAQ:SMCI). The bullish outlook drove a steep jump in AI chipmakers Nvidia (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD), as a well as a surge in the Philadelphia SE Semiconductor Index to a fresh all-time high.

Enthusiasm around AI had been bolstered earlier in the week by top contract chipmaker TSMC, which forecast a 20% increase in revenue this year thanks to soaring demand for the potential applications of the nascent technology.

Following a day of heavy volume on U.S. exchanges, the S&P 500 rose by 1.23%, the tech-heavy Nasdaq Composite added 1.7%, and the 30-stock Dow Jones Industrial Average gained 1.05%.

2. FAA recommends further Boeing checks

The U.S. aviation authority has