Tech-Led Rebound Lifts US Futures as Investors Brace for Nvidia and Data Deluge – Asia Market Wrap
US equity futures advanced alongside gains in Asian technology shares as traders positioned themselves for a pivotal week packed with Nvidia’s earnings and the return of long-delayed US economic data.
Risk appetite improved after a muted finish last week, with S&P 500 contracts up 0.4% and Nasdaq 100 futures rising 0.6%. Chipmakers in South Korea, including Samsung Electronics and SK Hynix, climbed after announcing additional investment commitments. Digital assets also caught a bid, with Bitcoin rebounding 1.8% after briefly erasing its gains for the year. European futures signaled a subdued start, while Asia’s regional benchmark slipped 0.2%. Japanese stocks underperformed after the country’s economy shrank for the first time in six quarters and tourism-related names fell amid escalating tensions with China.
Markets are gearing up for a flood of long-overdue US indicators as federal agencies restart data releases following weeks of disruption. Fresh employment figures and other official reports will help clarify the Federal Reserve’s policy path at a time when enthusiasm for AI-linked stocks continues to buoy broader sentiment.
Elsewhere, gold extended its decline for a third session, while the dollar edged 0.1% higher. Treasuries were little changed as traders awaited clarity from the upcoming data cycle.
Federal Reserve officials have recently signaled caution on the prospect of a December rate cut — with several pushing back on the idea less than a month after Chair Jerome Powell emphasized that such a move is “far from a foregone conclusion.” Minutes from the Oct. 28–29 meeting, due this week, may shed light on the unusually divided views inside the FOMC. Market pricing last week put the probability of a December cut below 50%.
In commodities, crude oil slipped after signs that operations had resumed at Russia’s key Black Sea port of Novorossiysk, which halted shipments temporarily following a Ukrainian strike.
