US Futures Rise as Big Tech Profits Are Highlighted – Europe Market Wrap

The attention of investors switched from Middle East tensions to a variety of company profits this week, including four of the tech megacaps known as the “Magnificent Seven,” which had dominated the previous year’s bull market. This contributed to a surge in US equity futures.

S&P 500 futures saw a 0.5% increase following the US gauge’s weakest week since March 2023. Nasdaq 100 futures saw a 0.7% increase. Following Israel’s retaliatory assault, traders found solace in the fact that Iran was not increasing the demand for havens. The rate on US Treasury 10-year notes increased by three basis points. Both gold and oil declined.

Premarket trading saw Nvidia rise more than 2% after the market leader in artificial intelligence lost about $212 billion in market capitalization during Friday’s massive tech selloff. Announcing price reductions for its electric automobiles, Tesla saw a more than 2% decline ahead of its earnings release on Tuesday.