Markets Surge as Investors Bet on Fed Rate Cuts. Stock Futures Pop on Data Hope.

Stock futures were rising sharply Monday, as investors hoped a slew of delayed economic data due this week would bolster the chances of the Federal Reserve cutting interest rates next month. S&P 500 futures jumped 0.7%, and contracts tied to the tech-heavy Nasdaq 100 were 1% higher. The three major indexes see-sawed last week as Wall Street fretted about bloated artificial-intelligence valuations, but the Dow added nearly 500 points on Friday New York Fed President John Williams signaled his support for lowering rates at the Dec. 9-10 policy meeting.