U.S. stock futures rise on tech rebound
S&P 500 Futures gained 0.1% to 7,411.25 points, Nasdaq 100 Futures added 0.6% to 29,174.50 points, while Dow Jones Futures advanced 0.1% to 50,751.0 points
U.S. stock index futures rose on Sunday evening as technology and chipmaking stocks eyed a recovery after logging deep losses last week, while concerns over the Middle East war grew.
S&P 500 Futures gained 0.1% to 7,411.25 points by 00:21 GMT. Nasdaq 100 Futures added 0.6% to 29,174.50 points, while Dow Jones Futures advanced 0.1% to 50,751.0 points.
Futures advanced after stock markets plunged on Friday amid sharp losses in technology and chipmaking stocks, especially after a strong payrolls reading sparked concerns over higher for longer interest rates.
Concerns over the Iran war also remained squarely in play, especially following increased activity in the Middle East over the past two weeks.
Oil prices advanced sharply after the weekend strikes, driving up concerns over a prolonged Middle East war and energy-driven economic disruptions. This notion had weighed on stock market last week.
Stock indexes dropped sharply on Friday, hit chiefly by losses in tech and chipmaking stocks as investors locked in gains after a bumper artificial intelligence-fuelled rally in recent weeks.
The NASDAQ Composite was by far the worst performer, slipping 4.2% to 25,709.43 points in its worst day since April 2025.
The S&P 500 slipped 2.6% to 7,383.74 points, while the Dow Jones Industrial Average dropped 1.4% to 50,866.78 points.
Losses were fuelled chiefly by chip stocks, as heightened economic and geopolitical uncertainty saw investors collect profits from the high-flying sector. AI bellwether NVIDIA Corporation slipped more than 6% on Friday.
Stock market’s losses came after nonfarm payrolls data for May read much stronger than expected. The print pointed to resilience in the labour market despite economic headwinds from the Iran war.
Strength in the labour market gives the U.S. central bank more headroom to potentially raise interest rates, especially in the face of rising energy-fuelled prices. This notion spurred sharp gains in Treasury yields last week, which in turn also spooked stock market.