Nasdaq futures rebound as investors await October jobs report (6 Nov)
- US stock futures stabilized on Friday following a $2.5 trillion market sell-off.
- The Nasdaq remains in correction territory after its worst day in 19 months.
- Chip stocks including AMD and Intel recovered between 4.6% and 8.2% in pre-market trading.
- Investors remain cautious over potential AI regulation following the Democrats' midterm election win.
US stock futures stabilized on Friday, 6 November 2026, though reports on index movements varied. The Economic Times reported that Nasdaq futures rose 1.41% while Dow futures fell 0.91% in pre-market trading. Conversely, Yahoo Finance stated that futures for the S&P 500, Nasdaq, and Dow declined as investors retreated from tech stocks.
This market activity follows a massive tech sell-off on 5 November 2026 that wiped $2.5 trillion from the stock market. The Nasdaq entered correction territory that day as traders sold off chip stocks following the Democratic election sweep. Nvidia entered bear territory during this significant decline in big tech stocks.
Stabilization of chip stocks supported the increase in Nasdaq futures on Friday, according to Reuters. Yahoo Finance noted that investors continued to retreat from AI and tech stocks, with companies in focus including Nvidia, Apple, Uber, and the iShares Semiconductor ETF.
October jobs report expected to show 65,000 new payrolls
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The unemployment rate is projected to remain at 4.2%.
Average hourly earnings are expected to rise 0.3% this month after a 0.1% increase, while annual growth is forecast to ease to 2.9% from 3.0%. The average workweek is expected to hold steady at 34.4 hours.
Chip stocks and data-centre operators lead market recovery
Chip stocks showed signs of recovery in pre-market trading, with AMD, Intel, Broadcom, and Micron Technology each rising between 4.6% and 8.2%, according to the Economic Times.
Democrats' midterm win fuels concerns over AI regulation
Investors remain uneasy that the Democrats’ midterm election win could result in stricter AI regulation and slow data-centre expansion.
Election outcomes in several pivotal data-centre states have introduced uncertainty to the sector’s growth outlook.
Nasdaq index faces fourth consecutive weekly decline
The Nasdaq index is heading for its fourth consecutive weekly decline.
Oil prices track for sharp weekly losses
Oil prices remained on track for sharp weekly losses.
The Economic Times reported that Brent crude futures are broadly flat but set for a steep weekly decline.
Tech sector volatility persists following midterm election shifts
On November 3, 2026, the S&P 500 and Nasdaq closed higher as the AI trade rebounded during the U.S. midterm elections.
Yahoo Finance reported that on the same day, the S&P 500 and Nasdaq fell due to investor concerns regarding capital expenditure in the tech sector.
This decline occurred despite optimism about U.S.-Iran diplomacy, with companies in focus including ORCL, META, PLTR, and AAPL.
Yahoo Finance also reported that on November 3, 2026, the indices recovered from an AI-related decline, with attention on META, AAPL, AMD, and SKHY.
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