US Futures Rebound Premarket Led by Tech Gains Ahead of Major Earnings Week
U.S. stock futures moved higher early Monday, bouncing back from the worst weekly downturn for major indexes since early June. As of 4 a.m. ET, Nasdaq futures jumped 1.1%, while S&P 500 futures and Russell 2000 futures both climbed 0.5%, and Dow futures added 0.1%. The early rally follows recent pressure on technology shares driven by concerns over artificial intelligence spending and elevated valuations.
Semiconductor and cloud infrastructure stocks anchored the morning bounce. CoreWeave (CRWV) and Nebius Group N.V. (NBIS) advanced following reports of Nvidia (NVDA) providing credit lifelines to key neocloud companies. Additionally, Micron Technology, Inc. (MU), SK Hynix (SKHY), Broadcom Inc. (AVGO), Qualcomm Inc. (QCOM), and Taiwan Semiconductor Manufacturing Co. (TSM) each surged 2% to 5% in early trading amid reports that Nvidia asked memory makers to use TSMC's 3-nanometer process for next-generation high-bandwidth memory chips.
Investors are preparing for an intense earnings schedule, with nearly 15% of S&P 500 companies scheduled to report this week. Key focal points include earnings from Tesla, Inc. (TSLA) and SpaceX (SPCX), alongside economic indicators such as weekly jobless claims. Individual stocks making moves include Rocket Lab (RKLB), which gained 2% after launch delay concerns, and Nio Inc. (NIO), which remained subdued despite outselling German luxury competitors in China for the first time.
Key points
- Nasdaq futures rose 1.1% early Monday, while S&P 500 and Russell 2000 futures added 0.5% after last week's sharp pullback in technology stocks.
- Nearly 15% of S&P 500 companies are set to report financial results this week, including major reports from Tesla and SpaceX.
- Semiconductor stocks gained 2% to 5% premarket on reports of Nvidia working with chipmakers to produce next-generation high-bandwidth memory chips.
- Nebius Director Anne Grimme purchased nearly $50,000 worth of company shares last week.
Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org
How we writeDisclaimerQuestions and answers
Why are stock futures rising on Monday morning?
Stock futures are rebounding from the worst weekly performance since early June as investors position for major corporate earnings reports and tech stocks bounce back.
Which major companies are reporting earnings this week?
Nearly 15% of S&P 500 firms report results this week, highlighted by Tesla and SpaceX, with SpaceX reporting on Tuesday evening.
Why are semiconductor stocks gaining in premarket trading?
Chipmakers rose between 2% and 5% following reports that Nvidia requested memory partners to use TSMC's 3-nanometer process for next-generation memory components.