US Futures Climb With Semiconductor Stocks Rebounding After Rout

US stock futures are rebounding from the worst week for the tech-heavy Nasdaq 100 Index since the tariff turmoil of April 2025, as chips stocks and troubled artificial-intelligence bellwether CoreWeave Inc. rise ahead of the bell.

Nasdaq 100 futures were up 1.0% as of 7:41 a.m. in New York, while S&P 500 Index contracts advanced 0.4%. Semiconductor stocks rose, with the benchmarch Philadelphia Semiconductor Index set to snap its longest losing streak in 18 years. Shares in data center, neocloud and optical firms were also gaining along with a broad-based rally in AI-adjacent firms.

“There will be a buying opportunity every time we see a day like Friday,” as big drawdowns in top tech stocks are unwarranted, Edison Byzyka, Chief Investment Officer at Credent Wealth Management, said.

Cloud-computing services provider CoreWeave rose 6.2% ahead of the bell. Shares had plunged last week as its debt tumbled to levels that typically indicate distress, spurring anxiety about the sustainability of the AI rally.

“We don’t believe that CoreWeave is circling the drain,” MoffettNathanson analyst Nick Del Deo wrote in a Monday note, as it has a “number of financing levers it can pull.” Nvidia Corp. is “willing to use its heft to shape the end market for its products in a variety of ways,” he said, adding that CoreWeave is a “critical vendor to its customers, all facing compute shortages.”

In other single-stock news, SpaceX was little changed after Elon Musk pledged to gift a share to each American child, posting the move shortly after AI competitor Anthropic PBC said it would set aside a portion of its shares for the public benefit. Tesla Inc. slipped 0.4%; there has been recent speculation about a merger between the car company and SpaceX.

Earnings from SpaceX, Tesla and its fellow Magnificent-Seven stock Meta Platforms Inc., which also dipped in early Monday trading, are due later this week.

Sectors in Focus

Big banks, after recording their worst weekly losing streak since the 2008 financial crisis; the benchmark KBW Bank Index nearly 1% last week and is well into correction territory, losing about 13% since its last record in August.Crypto stocks, as Bitcoin briefly rose above $83,000 on Monday, rebounding along with with US stock futures.