Nasdaq 100 futures surge as Wall Street looks to rebound from rout in AI trade

U.S. stock index futures climbed on Monday, signaling a potential recovery for Wall Street following last week's sharp decline driven by the artificial intelligence sector. Investors were eyeing Apple's upcoming quarterly earnings report, viewed as a defensive asset amid the AI sell-off. The tech industry's contrasting performance this month became apparent, with the Nasdaq Composite falling over 5% due to AI valuation reductions, while the S&P 500 only dropped 0.9%.

Meanwhile, the Dow Jones Industrial Average edged up 1.7%. Political and economic factors, including the upcoming U.S. midterm elections, labor data release, and Federal Reserve's interest rate decisions, were expected to influence market sentiment throughout the week.