Nasdaq Futures Rise 1% as Oil and Yields Retreat
Futures are recovering after the Nasdaq's worst week since early June. As of 8:30 a.m. ET (3:30 p.m. in Istanbul), Nasdaq 100 futures were up more than 1% and S&P 500 futures up 0.5%. Dow futures were slightly lower.
Oil and rates set up the rebound. Brent fell 1.5% to around $108, and the 10-year Treasury yield slipped a few basis points below Friday's close. The market did not read Friday's selloff as an AI story alone; buyers returned as inflation and rate worries eased.
The oil pullback came from the Moscow front. Trump signed an executive order on Friday suspending some sanctions and tariffs on Russia. Secretary of State Rubio said the economic impact would be assessed for up to 60 days.
Analyst calls started the buying in chips. JPMorgan upgraded Intel to neutral from underweight, and the stock gained about 4% in premarket trading. The price target stayed at $85, below Friday's close of $89.85.
CoreWeave is up 6% premarket after Goldman Sachs upgraded it to buy and lifted its target to $139 from $106. The stock fell 11.9% on Friday. The Philadelphia Semiconductor Index has fallen for eight straight sessions, its longest losing streak since 2006.
