Microsoft hires Sam Altman, Cruise CEO resigns - what's moving markets
Investing.com -- U.S. stock futures edged higher ahead of the first day of a Thanksgiving-shortened trading week, as investors geared up for minutes from the Federal Reserve's latest meeting and earnings from AI-darling Nvidia (NASDAQ:NVDA) on Tuesday. Sam Altman is set to join Microsoft (NASDAQ:MSFT) after a dramatic weekend saw his ouster from the helm of ChatGPT-maker OpenAI. Elsewhere, Cruise boss Kyle Vogt resigns following a series of recent missteps at the robotaxi group.
1. Futures inch up
U.S. stock futures hovered just above the flatline to begin a holiday-shortened trading week, with investors looking ahead to upcoming minutes from the Federal Reserve's latest meeting as they attempt to gauge the central bank's future policy path.
By 05:09 ET (10:09 GMT), the Dow futures contract had added 26 points or 0.1%, S&P 500 futures had gained 6 points or 0.1%, and Nasdaq 100 futures had risen by 32 points or 0.2%.
The main indices on Wall Street ended the prior session marginally in the green, helping the benchmark S&P 500 and 30-stock Dow Jones Industrial Average post their first three-week winning streaks since the summer. Meanwhile, the tech-heavy Nasdaq Composite surged to its best week since June.
On Tuesday, traders will have the opportunity to parse through minutes from the Fed's November meeting, where officials chose to keep interest rates steady at a target range of 5.25% to 5.50%. The release will likely be one of the highlights of the economic calendar in a week truncated by Thanksgiving festivities.
Corporate earnings this week will also feature quarterly figures from Nvidia, the California chipmaker that has become a focal point of this year's surge in enthusiasm over generative artificial intelligence.
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