Nasdaq Futures Rise 1.53% as Semiconductor Stocks Rebound
Stock futures are higher this morning as markets attempt to stabilize after Friday's sharp technology selloff. S&P 500 and Nasdaq futures are particularly rebounding, led by gains in semiconductor stocks, which are recovering some of the roughly $1T in market value erased from the chip sector late last week.Friday's employment report showed the labor market continues to create jobs despite elevated interest rates. That data reinforced the view that the economy is slowing gradually rather than falling into recession. For equity investors, that is generally positive for earnings, but it also complicates the outlook for Federal Reserve policy. Treasury yields remain elevated as a result, although they have stabilized somewhat after their sharp rise during May.Oil prices are receiving less attention than they were a few weeks ago, but energy remains an important variable.In pre-market trading, S&P 500 futures rose 0.81%, Nasdaq futures rose 1.53% and Dow futures rose 0.29%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Corningup 9% after Amazonannounced a "multibillion-dollar agreement" for Corning to supply the optical fiber, cable, and connectivity solutions for Amazon's expanding data center infrastructure across the United States.Noceraup 39% after entering into a binding agreement with U.S.-based Digital Innovations Group to establish Digital Innovations Venture Group, a strategic venture platformNurix Therapeuticsup 15% after announcing a global collaboration with Rocheto develop and commercialize bexobrutidegNvidiaup 2% after reporting a multiyear technology partnership with SK Hynix to advance next-generation memory for the global AI factory buildout and accelerate semiconductor design and manufacturingEli Lillyup 1% after presenting results demonstrating that women with obesity or overweight who took the highest dose of Foundayo experienced significant weight loss at every stage of menopauseUP AFTER EARNINGS -AstroNovaup 6%FuelCellup 4%Duluth Holdingsup 3%Campbell'sup 2%DOWN AFTER EARNINGS -Grahamdown 7%LOWER -Wixdown 11% after cutting its FY26 revenue outlook citing an organizational realignment that includes discontinuation of certain activitiesStandard Biotoolsdown 3% after the company and Treeline Biosciences announced they have entered into a definitive merger agreement to combine in an all-stock transaction
