Stock Futures Rebound as Tech Sector Recovers and Oil Prices Slip

Global stock futures saw a rally on Friday, signaling a partial recovery following a significant sell-off in the technology sector during the previous session. Nasdaq futures climbed 0.8%, helping to offset losses triggered Thursday by a report concerning OpenAI’s projected revenue. Despite the earlier market anxiety, investors returned to chip makers and hyperscalers during premarket trading, bolstered by a rebound in sentiment toward artificial intelligence.Broad market indicators also trended upward, with S&P 500 futures gaining 0.4% and the Dow Jones Industrial Average inching up 0.1%. European markets reflected this positive momentum, with the Stoxx 600 index rising 0.75% as software stocks performed well. However, the picture remained mixed in Asia, where the AI-focused Korean Kospi and Japan's Nikkei 225 recorded declines.The energy sector saw a retreat in prices, with front-month Brent crude contracts dropping 1% to $103.20 per barrel and WTI crude falling 0.9% to $90.64. The decline followed remarks from President Trump, who indicated that the United States would not initiate attacks against Iran prior to the midterms, citing productive discussions. Despite this cooling in prices, market analysts noted that supply risks persist due to ongoing attacks on Saudi Arabia by Houthi militants and the threat Hurricane Isaias poses to oil production in the Gulf of Mexico.Elsewhere in the financial landscape, the U.S. dollar weakened against a basket of currencies, providing support for gold and bitcoin. Gold futures climbed back above $4,200 per troy ounce, while bitcoin rose nearly 1% to trade around $82,500. In contrast, the telecommunications sector faced pressure in both the U.S. and Europe, partly due to SpaceX intensifying efforts to develop its mobile network. Investors are now turning their attention to upcoming U.S. consumer sentiment data to gauge the direction of the broader economy.