Aveek Bhowmik
6 min read
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Earlier on Friday, Wall Street partially recovered from Thursday’s AI-driven sell-off, with the Nasdaq Composite and S&P 500 rising.
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Brent crude was down 0.85% while WTI dropped 0.35% at the time of writing early on Monday.
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Investors will watch preliminary U.S. wholesale inventories data, a three-year Treasury note auction and comments from Federal Reserve officials.
U.S. stock futures traded higher in early trading on Monday, with technology shares in focus following last week’s volatility. Investors were also looking ahead to key inflation data and earnings reports from major AI companies due later this week.
At the time of writing, around 5 a.m. ET, S&P 500 futures were up 0.34%, while Nasdaq 100 futures gained around 0.5%. Dow Jones Industrial Average futures led the gains, advancing 0.76%.
Earlier, on Friday, U.S. markets partially recovered from Thursday’s sharp AI-driven sell-off, with chip stocks regaining ground amid renewed buying. The Dow Jones Industrial Average fell 0.46%, while the S&P 500 and Nasdaq Composite advanced 0.31% and 1.09%, respectively.
Oil Slips As Trump Signals No Fresh Iran Strikes
Oil prices fell early on Monday after President Donald Trump said he was unlikely to order further strikes on Iran, citing progress in talks to end the conflict. However, reports of attacks on ships in and around the Strait of Hormuz by both sides continued to raise concerns over supply disruptions.
As of 5 a.m. ET, Brent crude futures were down 0.85% to $97.48 a barrel, while US West Texas Intermediate (WTI) crude futures declined 0.35% to $90.51 a barrel. The decline reversed the modest gains recorded at Friday’s close.
Brent had fallen 17% last week, marking its steepest weekly decline since the start of the Covid-19 pandemic, according to a report in CNBC.
The Tech Radar
Nvidia (NVDA): Shares fell more than 5% in early premarket trading after CEO Jensen Huang acknowledged an illicit relationship with an individual suspected of being a US spy and confirmed that the company’s board had opened an investigation. The development came as shares of other chipmakers, including Intel and Advanced Micro Devices, posted modest gains. China rejected allegations linking Beijing to the controversy, with Foreign Ministry spokesman Guo Jiakun dismissing the claims as unsubstantiated and describing them as an attempt to smear the country, Bloomberg reported. The episode could also cast a shadow over the planned meeting between Chinese President Xi Jinping and U.S. President Donald Trump at the Asia-Pacific Economic Cooperation summit in Shenzhen next week, the report said.
