Off to a good start, S&P, Nasdaq futures climb as AI stocks rebound after selloff
Landon Capital News
S&P and Nasdaq futures rose on Monday after a sharp decline in artificial intelligence-linked stocks last week, while a busy earnings calendar offered a fresh test of market sentiment.
By 07:13 ET (11:13 GMT), S&P 500 futures had climbed by 37 points, or 0.5%, and Nasdaq 100 futures had gained 304 points, or 1.0%. The Dow futures contract was down by 71 points, or 0.1%.
“[T]he Nasdaq is rebounding so far this morning following a brutal selloff as investors hope a busy week of earnings will help bolster sentiment toward the group,” analysts at Vital Knowledge said in a note.
The rebound followed a bruising week in which concerns swirled around debt-fueled financing of AI infrastructure and higher-for-longer borrowing costs. The Nasdaq Composite fell 4.5% last week, ending a four-week winning streak, while the S&P 500 lost nearly 2%, its steepest weekly decline since late June. The Dow Jones Industrial Average gained 0.7%.
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