US Stock Futures Slip Amid Visa Policy Concerns and Market Rally Pause
After a record-breaking rally, U.S. stock index futures dipped on Monday due to uncertainties surrounding President Trump's visa policies. The proposed increase in H-1B visa fees could significantly impact tech and finance industries. Meanwhile, Wall Street's recent gains were bolstered by a Federal Reserve interest rate cut and AI-related stock enthusiasm.
U.S. stock index futures drifted lower on Monday following a record-breaking rally on Wall Street, as concerns over President Donald Trump's new visa policy weighed on investor sentiment. Last week's tech-fueled surge brought the major indexes to record highs, but Monday saw a pause in the market's momentum.
Investors are closely watching the administration's suggestion to increase H-1B visa fees to $100,000 per year, a move impacting sectors reliant on skilled foreign labor, such as technology and finance. Major players like Microsoft and Amazon maintained stability in premarket trading, though J.P. Morgan Chase edged 1.5% lower.
The Federal Reserve's recent quarter-point interest rate cut and potential for further reductions have supported Wall Street's recent rally. Furthermore, increased interest in AI-related stocks and optimism around small-cap companies have bolstered market performance despite September's historically negative trends.
(With inputs from agencies.)
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