Nasdaq futures rose 1.48% and S&P 500 futures gained 0.39% on Friday, while Dow futures fell 0.66%, as chip stocks recovered after a technology-led selloff. The Nasdaq Composite had its steepest one-day drop in 19 months on Thursday.
Nasdaq futures climbed on Friday as chip stocks gained ground after a technology-led rout wiped nearly $3 trillion off the market value of S&P 500 companies. The Nasdaq Composite fell to its deepest one-day loss in 19 months on Thursday and was on track for a fourth straight weekly decline.
At 4:14 a.m. ET, Nasdaq 100 futures were up 1.48%, S&P 500 futures were up 0.39%, and Dow futures were down 0.66%. Nvidia rose 3.6% in premarket trading, while AMD, Intel, Broadcom and Micron Technology gained between 5% and 8.3%.
The selloff followed concerns that Democratic control of Congress could lead to tougher AI regulation and slow data-center construction. A rise in crude oil prices also raised concerns about energy-driven inflation and interest-rate hikes; an October jobs report due at 8:30 a.m. ET could influence market pricing on rates.
