Nasdaq futures rise after steep AI selloff as chip stocks stabilize
SPY•Nasdaq 100 futures rose 1.41% and S&P 500 futures gained 0.29% on Friday, while Dow futures fell 0.91%, as chip stocks rebounded after a tech-led selloff wiped nearly $3 trillion off the market value of S&P 500 companies. Investors awaited October jobs data, with the S&P 500 on pace for its worst week since March 2025.
1. Futures recover unevenly
Nasdaq futures climbed on Friday as chip stocks gained ground after a tech-led rout on Thursday. The Nasdaq Composite had its steepest one-day decline in 19 months and entered correction territory, while heading for a fourth straight weekly fall. The CBOE Volatility Index eased slightly to 26.70 after its biggest one-day jump in about 19 months.
2. Chip stocks rebound
At 6:24 a.m. ET, Nasdaq 100 futures were up 1.41%, S&P 500 futures gained 0.29% and Dow futures fell 0.91%. Nvidia rose 4.5% in premarket trading, while AMD, Intel, Broadcom and Micron Technology gained between 4.6% and 8.2%. The S&P 500 was on pace for its worst weekly showing since March 2025.
3. Investors await jobs data
Investors were looking ahead to the October jobs report, due at 8:30 a.m. ET, for clues on interest rates. Oil prices were broadly flat on Friday after a jump the previous day, while crude was still set for sharp weekly declines. Airbnb climbed 12.2% after raising its full-year 2026 revenue growth forecast, while Atlassian fell 14.1% after reporting first-quarter results.
