US stock futures rally Thursday: S&P 500 +0.97%, Nasdaq 100 +1.08%

The broad-based strength across large-cap, small-cap, and tech futures signals a risk-on tone that could spill into crypto and RWA markets, where sentiment often tracks equity appetite for growth assets. The Nasdaq's 1%+ gain is notable for its correlation with digital asset liquidity conditions, though the move's durability hinges on whether this reflects genuine repositioning or a short-term technical bounce. The Russell lagging suggests investors are favoring quality over speculative breadth, a divergence worth monitoring for how it might filter into demand for tokenized treasuries or yield-bearing RWA products.