Stock market today: Nasdaq leads US futures higher while GameStop skyrockets

Nasdaq futures rose on Monday, with US stocks eyeing an upbeat start to June as hopes for rate cuts revive and the meme-stock mania roars back. Contracts on the tech-heavy Nasdaq 100 and the S&P 500 gained 0.4% and 0.2%, respectively, as Nvidia shares popped on the heels of an AI chip update. Dow Jones Industrial Average futures lagged, hovering around the flatline. A surge in GameStop shares grabbed the spotlight, firing up speculation again of a return to a 2021-style meme rally.

Overall, stocks are on track to build on their strong performance in May, which saw all three major gauges break records during the month. The mood has turned more positive after PCE data gave hope that inflation has turned a corner, prompting optimism that the Federal Reserve will look more kindly on a cut to borrowing costs.

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GameStop stock gains more than 60% as meme-stock market returns with a vengeanceGameStop stock stock surged again early Tuesday, adding to a 74% rise on Monday as meme stocks appear to be back in vogue.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

GameStop stock gains 60% as meme-stock market returns with a vengeanceGameStop stock stock surged again early Tuesday, adding to a 74% rise on Monday as meme stocks appear to be back in vogue.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

GameStop stock gains nearly 100% as meme-stock market returns with a vengeanceGameStop stock stock surged again early Tuesday, adding to a 74% rise on Monday as meme stocks appear to be back in vogue.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »