Broadcom Rallies with Nasdaq Futures Up 1.2% and Semiconductor ETF +4%
AVGO•Broadcom shares rallied in premarket trading, contributing to a 1.2% surge in Nasdaq 100 futures after the Nasdaq Composite fell 4.2% on Friday. The iShares Semiconductor ETF recovered about 4% before the open, partially offsetting last week’s 10% sector rout driven by macro volatility and oil price spikes.
1. Premarket Rally and Futures Gains
Broadcom shares traded higher in Monday’s premarket session, aligning with a 1.2% gain in Nasdaq 100 futures and a 0.6% advance in S&P 500 futures after the Nasdaq Composite plunged 4.2% on Friday, its worst single-day drop since April 2025.
2. Semiconductor ETF Rebound
The iShares Semiconductor ETF rose roughly 4% in premarket action, clawing back part of last Friday’s 10% collapse. Gains in Micron Technology (over 5%) and advances in Nvidia and Broadcom underpinned the sector’s rebound.
3. Geopolitical Tensions and Oil Volatility
Renewed missile exchanges between Iran and Israel pushed WTI crude above $92 a barrel, stoking energy-driven cost concerns for chipmakers. Prices later eased after ceasefire signals, but the spike added to market volatility.
4. Marvell’s S&P 500 Inclusion Boost
Marvell Technology’s 7% premarket rally on news of its June 22 S&P 500 inclusion highlighted ongoing AI-driven demand for data-center chips. That development provided a broader catalyst for semiconductor names, including Broadcom.
