Investing.com– U.S. stock index futures were mostly steady on Monday night after a rally in the world’s biggest technology stocks pushed Wall Street higher amid thin trading before the Christmas holiday.

The New York Stock Exchange is scheduled to close early Tuesday for Christmas Eve, and the market is closed on Christmas Day.

mostly unchanged at 6,034.0 points, while it was lowered to 21,730.50 points at 19:33 ET (00:33 GMT). average constant at 43,324.0 points.

Wall Street recovered from the Fed-induced fall last week

The US Federal Reserve planned smaller-than-expected cuts in 2025 on Wednesday. This led to sharp falls in all three major indexes and a weekly decline on Wall Street.

The Fed signaled a cautious approach to adjusting monetary policy, emphasizing the need for continued growth in inflation before considering further rate cuts.

Markets eased expectations of rate cuts after the Fed meeting, pricing in two more cuts in the coming year.

Sentiment rose on Friday after – the Fed’s preferred measure of inflation – rose at a slower than expected pace in November, while the increase was largely in line with estimates.

Although recent data shows a cooling trend, the continued elevation above the 2% target suggests that inflationary pressures have not been fully contained.

Chip stocks jumped amid a broader tech rally, thunderstorms increase in shares

Wall Street indexes closed higher on Monday led by a surge in semiconductor stocks that gave tech a strong start to the holiday-shortened week.

The gained 0.7% to 5,974.07 points, and the rose 0.2% to 42,906.65, while the rose 1% to 19,764.89 points.

Broadcom Inc (NASDAQ: ) rose 5.5% as investors continued to snap up the chipmaker’s shares following its strong quarterly results and guidance released earlier this month.

Qualcomm Inc (NASDAQ: ) stock rose more than 3% after a jury found that its central processors were properly licensed under an agreement with the UK-based. ARMS Holdings (NASDAQ:).

Among the “Magnificent Seven” megacaps, NVIDIA Corporation (NASDAQ: ), Meta Platforms Inc (NASDAQ: ) and Tesla Inc (NASDAQ: ) jumped between 2.3% and 3.7%.

Rumble Inc (NASDAQ: ) stock surged 81% after the video-sharing platform said it received a strategic investment of $775 million from a cryptocurrency firm.

Eli Lilly’s (NYSE: ) stock gained 3.7% after the US Food and Drug Administration approved its weight-loss drug, Zepbound, for obstructive sleep apnea on Friday.