Market Summary
US Futures Rebound Following Chip Sell-Off: US equity futures recovered from last week’s technology rout, with Nasdaq 100 futures rising 1.3% after the index lost 5.5% over the week. S&P 500 futures gained 0.8%, while the MSCI Asia Pacific Index recovered its earlier losses to trade unchanged. However, European futures fell 0.3% and French bond futures weakened following widespread protests over the weekend, leaving the recovery uneven across regions.
Technology Earnings Set to Test AI Confidence: Attention now turns to corporate earnings to assess whether the technology sell-off was an overreaction or a warning about the returns on heavy AI investment. Netflix reports on Tuesday, followed by Tesla, Meta and IBM on Wednesday. The results will test confidence in the sector after a closely watched semiconductor index recorded its longest run of declines since 2008. Investors will be looking for evidence that profits can justify infrastructure spending despite persistent inflation and elevated borrowing costs.
Oil Falls as Middle East Supplies Hold: Brent crude fell 1.8% to $107.85 a barrel as signs that Middle Eastern supplies were holding near pre-war levels outweighed renewed fighting. Treasuries attracted safe-haven demand, with the US 10-year yield holding at 5.06% after falling around 17 basis points last week. Traders also reduced bets on a Fed rate increase this month following Chair Kevin Warsh’s comments on Friday, supporting gold, while Bitcoin recovered above $82,500.
Economic Calendar
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Canada CPI
Key Market Moves Today
- S&P 500 Futures: +0.68% (7,756)
- Crude Oil: -2.08% ($96.95)
- Spot Gold: +0.48% ($4,185)
- Bitcoin: Above $82,500
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