US Futures Rebound from Friday Plunge
US equities were set to rebound on Monday from their selloff last session as markets reconsidered risks of slower spending on AI and infrastructure. Futures tied to the S&P 500 added 0.6% and the Dow gained nearly 1%, while a plunge for Nvidia drove the Nasdaq 100 to rise less than 0.5%. Broadcom, AMD, and Astera Labs were around 3% higher premarket following their plunge on Friday, when the Democratic party took control of Congress and drove markets to speculate on lower returns for AI companies, compounding recent concerns that the sector's growth was slowing. Also, Applied Materials added 2% ahead of its earnings this week. In turn, Nvidia sank over 5.5% after CEO Jensen Huang admitted to an affair with a suspected Chinese spy, potentially driving a Democratic Congress to tighten export controls of Nvidia chips. CoreWeave sank 3% ahead of its earnings this week, down 75% from its record last year to remain the leading bellwether for overspending on AI cloud-computing.
US equities were set to rebound on Monday from their selloff last session as markets reconsidered risks of slower spending on AI and infrastructure. Futures tied to the S&P 500 added 0.6% and the Dow gained nearly 1%, while a plunge for Nvidia drove the Nasdaq 100 to rise less than 0.5%. Broadcom, AMD, and Astera Labs were around 3% higher premarket following their plunge on Friday, when the Democratic party took control of Congress and drove markets to speculate on lower returns for AI companies, compounding recent concerns that the sector's growth was slowing. Also, Applied Materials added 2% ahead of its earnings this week.
In turn, Nvidia sank over 5.5% after CEO Jensen Huang admitted to an affair with a suspected Chinese spy, potentially driving a Democratic Congress to tighten export controls of Nvidia chips. CoreWeave sank 3% ahead of its earnings this week, down 75% from its record last year to remain the leading bellwether for overspending on AI cloud-computing.