US Stocks Rebound & AI Buyers Return - Europe Market Wrap
US stock futures advanced as dip buyers returned to the battered AI trade following the S&P 500’s steepest decline in more than a year. S&P 500 futures rose 0.3% after concerns over tighter data center regulations wiped roughly $3 trillion from the index in the previous session. Nasdaq 100 futures gained 1.6%, recovering part of Thursday’s 6.4% decline. Chip stocks rebounded in early trading, with an ETF tracking the US semiconductor sector rising 6% and Nvidia gaining 5%. However, Microsoft and Apple remained under pressure, while data center firm IREN surged 19% after reporting a sharp increase in AI cloud revenue. The Philadelphia Semiconductor Index has fallen around 16% since Monday amid fears of tighter US regulation. Global equities remained under pressure, with Asian stocks falling nearly 4% and Europe’s Stoxx 600 declining 1.8%. Treasuries surrendered some of their haven-driven gains ahead of Friday’s US payrolls report, while the Dollar strengthened against all major peers, heading for a second consecutive weekly advance. Brent crude edged higher toward $99 per barrel. Markets have swung sharply this week as investors initially bet that a Democratic sweep of Congress woul
US stock futures advanced as dip buyers returned to the battered AI trade following the S&P 500’s steepest decline in more than a year. S&P 500 futures rose 0.3% after concerns over tighter data center regulations wiped roughly $3 trillion from the index in the previous session. Nasdaq 100 futures gained 1.6%, recovering part of Thursday’s 6.4% decline. Chip stocks rebounded in early trading, with an ETF tracking the US semiconductor sector rising 6% and Nvidia gaining 5%.
However, Microsoft and Apple remained under pressure, while data center firm IREN surged 19% after reporting a sharp increase in AI cloud revenue. The Philadelphia Semiconductor Index has fallen around 16% since Monday amid fears of tighter US regulation. Global equities remained under pressure, with Asian stocks falling nearly 4% and Europe’s Stoxx 600 declining 1.8%. Treasuries surrendered some of their haven-driven gains ahead of Friday’s US payrolls report, while the Dollar strengthened against all major peers, heading for a second consecutive weekly advance.
Brent crude edged higher toward $99 per barrel. Markets have swung sharply this week as investors initially bet that a Democratic sweep of Congress would accelerate an end to the Iran conflict, before concerns over a crackdown on data center construction triggered a sharp reversal in tech stocks. Investors now await the US monthly jobs report for further clues on the economy and the path of Fed interest rates.