Chip stocks also rebounded, with Intel, Broadcom, Qualcomm, Micron Technology and Arm Holdings up around 2% each. At 5:32 a.m. ET, Dow e-minis were up 182...
- Nasdaq futures jumped 1% on Friday as megacap tech and chip stocks bounced back after a drubbing earlier this week, while investors hoped for a further let-up in inflation in a crucial data release later in the day.
At 5:32 a.m. ET, Dow e-minis were up 182 points, or 0.45%, S&P 500 e-minis were up 41.25 points, or 0.76%, and Nasdaq 100 e-minis were up 200.75 points, or 1.06%.Investors have dumped megacap tech stocks in the past few weeks, with disappointing earnings from Alphabet and Tesla sparking a sharp selloff in the "Magnificent Seven" on Wednesday. The setting up the S&P 500 and the Nasdaq for their second straight weekly decline.
Traders have priced in around two rate cuts by December, as per LSEG data, while bets of a 25-basis-point cut by the Fed's September meeting stood at 88%, according to CME's FedWatch. Investors also kept an eye out for the developments on the U.S. Presidential race, with new opinion polls showing Vice President Kamala Harris narrowing the gap with Republican rival Donald Trump.Our exclusive poll shows that viewers are unlikely to stop watching the BBC dancing competition due to the ongoing row.
PARIS — France’s high-speed rail network was hit Friday with widespread and “criminal” acts of vandalism including arson attacks, paralyzing travel to Paris from across the rest of France and Europe only hours before the grand opening ceremony of the Olympics.
Data Release Inflation Pressures Chip Stocks Arm Holdings Inflation Gauge Micron Technology Price Index Data
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