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Nasdaq futures edge up as tech looks to recover from sell-off

After last week's volatility, tech stocks are looking to start Monday on the front foot

by TechDefused Newsroom · Editor IL
The image captures a street view of Wall Street, showcasing the iconic Wall Street sign beneath American flags. The backdrop features a large advertisement displaying 'DATA + AI' and logos of associated brands. — Credit: Photo by Robb Miller / Unsplash cPhoto by Robb Miller / Unsplash
Photo by Robb Miller / Unsplash

Futures on the Nasdaq-100 rose about 0.4% on Monday as tech stocks tried to recover from last week's sell-off.

The Nasdaq Composite, the exchange's broadest index, ended last week with a second straight weekly loss.

AI stocks struggled for gains as investors weighed growing spending and backlogs.

Alphabet, Google's parent company, and Microsoft, the software group, report earnings on Wednesday.

The 10 biggest stocks in the S&P 500 have started to lag the rest of the market again, according to one Wall Street strategist.

The group includes Apple, Nvidia, Broadcom, Micron, Microsoft and Alphabet.

The same strategist downgraded tech to market weight, a neutral rating, earlier this month.

Apple and Nvidia are renewing their contest to be the world's most valuable company.

Cadence Design Systems, the chip design software maker, and Amkor Technology, the chip packaging group, report results on Monday.

by TechDefused Newsroom