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Happy Tuesday. Stock futures were higher following a rally in artificial intelligence stocks.

The rally helped push markets higher on Monday, as oil prices and Treasury yields retreated.

“A surge in US tech stocks lifted Wall Street as market sentiment improved. The catalysts were varied,” said Kyle Rodda, senior financial market analyst at Capital.com.

“However, the most meaningful appears to be the release of Meta’s new AI chatbot, which has been met with strong demand and resurfaced optimism about the growth outlook for the so-called AI trade.”

Meta Platforms (META) surged nearly 12% on Monday, driven by a major Wall Street price target upgrade and intense investor excitement over its new autonomous AI agent, Muse.

Rodda noted that the AI narrative wasn’t the only driver, citing plunging crude prices, driven by somewhat positive overtures by the US about negotiations with Iran, along with data pointing to increased energy flows through the Strait of Hormuz, which took pressure off cyclicals.

“Meanwhile, constructive language from the US and China leading to a highly anticipated meeting between President Donald Trump and President Xi Jinping also provided a little cheer about the outlook for global trade,” he said.

Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng ahead of Xi’s visit to the U.S.

AutoZone (AZO) and KB Home (KBH) are among the companies scheduled to report earnings today.