Stock futures were slightly higher Sunday evening with traders eyeing whether technology shares can continue to recover, while they are awaiting the release of key inflation data and earnings from major AI companies this week.
Futures tied to the Dow Jones Industrial Average added 101 points, or 0.2%. S&P 500 futures gained 0.1% and Nasdaq 100 futures added 0.3%.
Friday's market partially rebounded from Thursday's brutal AI-driven selloff, as chip stocks recovered on renewed buying. The tech-heavy Nasdaq Composite bounced 1.09% to 24,579.42 and the broad-market S&P 500 rose 0.31% to 7,376.86. The blue-chip Dow, however, lost 237.33 points, or 0.46%, to settle at 51,285.73.
Broader investor sentiment remained cautious following a batch of stronger-than-expected jobs data. Additionally, concerns linger after the Democrats' strong midterm results, amid fears that tighter regulations on data center construction, energy use, and development costs could slow the AI infrastructure boom.
The tech sector will also be focused on the bombshell announcement Sunday that Nvidia's board of directors is opening an investigation into co-founder and CEO Jensen Huang's relationship with a businesswoman who U.S. intelligence agencies say is a Chinese spy. A proxy for Nvidia shares was lower by 2% over the last 24 hours in trading on Hyperliquid.