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 rose around 1% in the premarket, while Oracle was higher by 0.8%.<\/p>\n Meanwhile, shares of Electronic Arts<\/a> were halted after the video game company announced that it’s going to be taken private in a $55 billion deal<\/a>.<\/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 turning to the September nonfarm payrolls report, which is due Friday morning. Wall Street may need another “goldilocks” number<\/a>\u00a0to keep the bull market going \u2014 not too hot as to turn policymakers hawkish and not too cold to indicate a major slowdown.<\/p>\n