Tech Rebound Lifts U.S. Futures After Last Week's Selloff
U.S. equity futures pointed mostly higher on Monday, with Nasdaq futures up more than 1% as technology shares recovered from a sharp decline. Last week, the S&P 500 and Nasdaq posted their largest weekly percentage drops since late June, while the Dow notched a second consecutive weekly gain. The coming week includes earnings from major technology companies such as Meta, Tesla, and Netflix.
Before Monday’s open, Dow futures were nearly flat, up 23 points, while S&P 500 futures gained 45.25 points and Nasdaq futures rose 357.50 points. Friday’s close was weak: the S&P 500 lost 1.09%, the Nasdaq fell 2.14%, and the Dow slipped 0.34%. The Philadelphia Semiconductor Index dropped 3.8%, and the VIX touched a four-month intraday high.
For the prior week, the S&P 500 declined 1.95% and the Nasdaq 4.48%, while the Dow added 0.67%, its second straight weekly advance. Overseas, Asia was mixed, with the Nikkei lower but Shanghai, Hang Seng, and Kospi higher; European indexes fell. Major tech earnings this week include Meta, Tesla, and Netflix.
The tech rebound may affect investor confidence, especially for those with retirement or brokerage accounts tied to equities. If volatility persists, households could see swings in savings, while companies planning to raise capital may face changing conditions. Energy-price and interest-rate concerns mentioned in the report could also influence borrowing costs and consumer spending. Earnings from large tech firms may shape sentiment beyond markets.