U.S. stock futures held relatively calm on Monday evening following a welcome relief rally across Wall Street. Investors poured back into beaten-down tech and artificial intelligence leaders, eager to shake off last week’s intense sell-off as a colossal wave of corporate earnings looms on the horizon.
Tech and Chipmakers Lead the Comeback
The tech sector orchestrated a sharp turnaround after suffering its worst weekly slump since late June. Concerns over persistent inflation, elevated interest rates, and the enormous capital expenditures tied to AI infrastructure took a back seat as bargain hunters stepped back in.
Semiconductor stocks took center stage, with the Philadelphia Semiconductor Index snapping a punishing eight-session losing streak with a solid 2.5% jump. Major movers included:
- Advanced Micro Devices (NASDAQ:AMD): Rallied 3.6%
- Broadcom (NASDAQ:AVGO): Surged 2.4%
- Nvidia (NASDAQ:NVDA): Gained 1.5% as buyers returned to the AI heavyweight
AI infrastructure names also stabilized after facing harsh turbulence last week. Data center provider CoreWeave saw strong intraday interest following a high-profile upgrade from Goldman Sachs, which assigned the stock a “buy” rating.
Major Indices Stabilize as Futures Pause
During regular trading, the tech-heavy Nasdaq Composite led the charge with a 1.1% advance, while the S&P 500 tacked on 0.4%. The Dow Jones Industrial Average sat out the rally slightly, dipping 0.1%.
In extended trading, index futures signaled a wait-and-see approach. S&P 500 futures hovered near flat, Nasdaq 100 futures slipped a modest 0.2%, and Dow Jones futures ticked 0.1% higher.
High-Stakes Earnings on Deck
The market’s focus is now swerving directly to corporate earnings, which could either validate Monday’s rebound or trigger renewed volatility. A diverse slate of heavyweights is set to report this week:
- General Motors (NYSE:GM) is scheduled to kick off Tuesday morning before the bell.
- United Airlines (NASDAQ:UAL) will report operational and travel demand figures after the closing bell.
- Mega-Cap Tech: Later this week, industry titans Meta Platforms (NASDAQ:META) and Tesla (NASDAQ:TSLA) will present quarterly numbers, alongside semiconductor equipment giants Lam Research (NASDAQ:LRCX) and Texas Instruments (NASDAQ:TXN).
Beyond earnings, macroeconomic crosscurrents remain pivotal. Bond yields and crude oil prices are keeping traders on their toes, with energy markets reacting to shifts in policy after President Donald Trump granted tariff and sanctions waivers on certain Russian energy exports.