U.S. stock futures steady after Wall Street rebounds on tech recovery

U.S. stock futures remained relatively stable on Monday evening following a mostly positive performance on Wall Street, with investors returning to technology and artificial intelligence-related shares after a significant drop last week. The S&P 500 Futures held steady at 7,731.75 points, while the Nasdaq 100 Futures experienced a slight decline of 0.2%, settling at 29,650.25 points by 20:34 ET (00:34 GMT). The Dow Jones Futures increased by 0.1% to 52,230.0 points.

The S&P 500 climbed 0.4% during the regular trading session, and the NASDAQ Composite rose 1.1%, whereas the Dow Jones Industrial Average dropped 0.1%. This rebound came after the S&P 500 and Nasdaq experienced their largest weekly declines since late June, driven by concerns over inflation, rising interest rates, and the high cost of financing AI infrastructure.

Chipmakers played a crucial role in the market's recovery on Monday, as the Philadelphia Semiconductor Index surged approximately 2.5%, ending an eight-day losing streak. Nvidia (NASDAQ:NVDA) enjoyed a 1.5% increase, Advanced Micro Devices (NASDAQ:AMD) climbed 3.6%, and Broadcom (NASDAQ:AVGO) rose by 2.4%. Additionally, AI infrastructure stocks rebounded following substantial losses the previous week.

CoreWeave (NASDAQ:CRWV) saw a boost during the session after Goldman Sachs upgraded the data center operator to "buy," although its shares ended marginally lower.

Investors were also monitoring upcoming corporate earnings reports. General Motors (NYSE:GM) was set to release its results on Tuesday before the market opened, while United Airlines (NASDAQ:UAL) would report after the closing bell. Meta Platforms (NASDAQ:META) and Tesla (NASDAQ:TSLA) were scheduled to disclose their earnings later in the week, alongside semiconductor and technology equipment companies such as Lam Research (NASDAQ:LRCX) and Texas Instruments (NASDAQ:TXN).

Oil prices and bond yields continued to influence market movements, with oil prices slipping in Asian trading as investors assessed the potential impact of President Donald Trump's waiver of certain sanctions and tariffs related to Russian energy exports.