Spx stock futures the SPX stock futures are trending

The SPX stock futures are trending upward at 5,122.75, recovering from yesterday’s intraday dip. Momentum indicators, including RSI and MACD, suggest short-term upside potential, provided macro data stays benign. Chipmakers are moving higher today, providing a boost to the overall market.  GlobalFoundries (GFS) is up more than +4% and Micron Technology (MU) is up more than +3%.  Also, Nvidia (NVDA) is up more than +2% to lead gainers in the Dow Jones Industrials.  In addition, KLA Corp (KLAC), ARM Holdings Plc (ARM), Broadcom (AVGO), ASML Holding NV (ASML), and Applied Materials (AMAT) are up more than +1%. U.S. stock futures gain after Friday’s Wall Street selloff; oil falls as OPEC+ extends output boost The SPX stock futures ticked down 0.15% to 5,109.75 as traders assessed mixed corporate guidance. Flow data reveals increased hedging in index options, signaling caution despite high index levels.