Tech Stocks Poised for Rebound
The market is signaling a potential turnaround for tech stocks, with E-mini Nasdaq 100 futures contracts surging nearly 0.8% in early Tuesday trading. This upward momentum comes on the heels of Monday’s decline, which saw the sector stumble in response to news of U.S. restrictions on certain artificial-intelligence exports.
Nvidia Leads the Charge
Shares of Nvidia are driving the rebound, up over 2% in premarket trading after shedding 2% on Monday. The chipmaker’s gains are helping to propel the broader tech sector, which has been under pressure in recent days.
Apple Bounces Back
Apple shares are also on the rise, up 0.5% in premarket trading after closing 1% lower on Monday. The tech giant’s stock had been weighed down by concerns over the impact of U.S. export restrictions on its business.
Broader Market Trends
The E-mini Dow and E-mini S&P 500 are also trending higher, up 0.4% and 0.6%, respectively. However, the market remains cautious following Friday’s strong jobs report, which has led to speculation that future interest-rate cuts may be less likely.
A Shift in Sentiment
As investors digest the latest economic data and sector-specific news, the market appears to be shifting its focus towards a potential rebound in tech stocks. With Nvidia and Apple leading the charge, the sector may be poised for a comeback after a tumultuous few days.
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