Nvidia, Alphabet, Amazon.com, Meta Platforms and Tesla were up between 0.5% and 0.8% in premarket trading, after a recent sell-off in megacap tech shares saw...
- U.S. index futures climbed on Monday after the recent market rout, as investors girded up for a busy week marked by a Federal Reserve interest-rate decision, eagerly awaited tech earnings and crucial labor data.
The three major U.S. stock indexes jumped more than 1% on Friday after hopes of an early start to monetary policy easing were boosted by an encouraging U.S. inflation report, close on the heels of recent data signaling a loosening jobs market.However, the S&P 500 and the Nasdaq failed to recoup lost ground and closed the week lower after a disappointing start to tech earnings prompted the indexes to log their steepest one-day slide since 2022 on Wednesday.
After Wall Street's record-breaking run since the start of this year, concerns about the dominance of Big Tech have prompted investors to pull out of these top-tier stocks and pour into lagging sections such as mid and small caps, which are expected to benefit from a low-interest-rate environment. Among other movers, crypto stocks such as Coinbase Global, Riot Platforms, Marathon Digital and MicroStrategy gained around 4% each after bitcoin prices jumped to a seven-week high.
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