U.S. stock futures pointed higher Monday morning after the Nasdaq Composite suffered its worst single-day drop since April 2025, even as renewed fighting between Iran and Israel sent oil prices higher.
Contracts on the Nasdaq 100 pointed to a 1.2% opening gain, with S&P 500 contracts up 0.6% and those tied to the Dow adding roughly 100 points
Those moves followed Friday’s steep losses, in which the Nasdaq Composite shed 4.2% and the S&P 500 fell 2.6% — the index’s worst single-session decline in approximately 10 months. Semiconductor names drove premarket gains, according to CNBC. Micron Technology, which had tumbled 13% on Friday, was trading more than 5% higher before the bell, while Nvidia and Broadcom also posted gains.
Friday’s 10% collapse in the iShares Semiconductor ETF — its steepest single-day drop in over six years — was being partially reversed, with the fund up close to 4% ahead of Monday’s open. A stronger-than-forecast May jobs report and a broad retreat in AI-related equities combined to spark Friday’s rout, according to the Wall Street Journal. Across Asia, markets bore the brunt of that weakness on Monday: South Korea’s Kospi, weighed down by semiconductor giants Samsung Electronics and SK Hynix, tumbled more than 8%, while Tokyo’s Nikkei 225 gave up 3.85%, closing at 64,024.6.