QQQ Futures Gain 0.7% After Semiconductor ETFs Plunge 7%-8%
QQQ•QQQ futures climbed 0.7% after the Nasdaq Composite fell 2.21%, driven by a 7% plunge in the VanEck Semiconductor ETF and an 8% drop in the Philadelphia Semiconductor Index. Retail sentiment toward QQQ turned bullish as investors weigh Micron’s upcoming earnings.
1. Semiconductor Stock Selloff
The Nasdaq-100 faced pressure as semiconductor shares tumbled following a rout in Asian tech. The VanEck Semiconductor ETF fell 7% and the Philadelphia Semiconductor Index slid nearly 8%, with Micron and SanDisk each losing about 13%, Intel and AMD down roughly 6%, and Qualcomm off 8%.
2. QQQ Futures Recovery
Late-session trading saw QQQ futures jump 0.7%, outpacing a 0.2% gain in S&P 500 futures while Dow futures dipped 0.1%. This rebound came after the Nasdaq Composite’s 2.21% drop, reflecting a snapback in tech exposure ahead of Wednesday’s trading session.
3. Retail Sentiment and Micron Outlook
Social platform indicators show bullish sentiment toward QQQ with normal message volume. Investors are now focused on Micron’s earnings due Wednesday to assess AI-driven memory demand and monitoring easing U.S.-Iran tensions that have kept oil near $73 a barrel.
