Nasdaq futures rise after AI selloff as chip stocks stabilize, Digi Mart USA News: Nasdaq futures climbed on Friday as chip stocks gained ground after a technology-led rout wiped nearly $3 trillion off the market value of S&P 500 companies. Investors feared that Democratic control of the U.S.
Congress could lead to tougher AI regulation.
The Nasdaq Composite posted its deepest one-day drop in 19 months on Thursday, confirming it had entered correction territory. The index was on track for a fourth straight weekly fall.
Jane Gibbons, equity strategist at Jefferies, said, “We view Thursday’s selloff as reactionary, not a fundamental reset, driven by a collision of concerns around AI spend, policy and inflation.”
The sharp declines followed Democrats’ midterm election victory earlier this week, including in some key data-center states. The losses raised concerns that AI data-center buildout could slow, after optimism over the sector’s rapid growth had pushed stock markets to record highs this year.
The CBOE Volatility Index, Wall Street’s most closely watched gauge of anxiety, logged its biggest one-day jump in about 19 months on Thursday. It edged down on Friday, last at 26.07.
At 4:14 a.m. ET, Dow E-minis were down 342 points, or 0.66 per cent.
S&P 500 E-minis were up 28.5 points, or 0.39 per cent, and Nasdaq 100 E-minis were up 395.25 points, or 1.48 per cent.
Megacap and growth stocks were mixed. Nvidia added 3.6 per cent in premarket trading, after posting its biggest one-day fall since January 2025, when the emergence of low-cost Chinese AI model DeepSeek rattled Wall Street.
Other chip stocks, including AMD, Intel, Broadcom and Micron Technology, rose between 5 per cent and 8.3 per cent after steep losses in the previous session. Data-center operators IREN and Applied Digital, neoclouds CoreWeave and Nebius Group, and AI-exposed utilities and equipment suppliers such as GE Vernova and Constellation Energy also recovered from deep losses in the last session.
Adding to Thursday’s rout, a jump in crude oil prices raised concerns about energy-fueled inflation and the prospect of future interest-rate hikes by global central banks. Brent crude was down 0.7 per cent on Friday.
An October jobs report due at 8:30 a.m. ET could be the next catalyst for market pricing on interest rates.
Traders were pricing in a more than 65 per cent chance of a rate hike in December, according to the CME FedWatch Tool.
Among other stock movers, software firm Atlassian dropped 15.6 per cent after reporting first-quarter results. Airbnb climbed 12.1 per cent after the vacation rental platform raised its full-year 2026 revenue growth forecast.
