US equity-index futures rebounded from last week’s chip rout, offering some respite ahead of key earnings that may set the market’s direction amid mounting pressure on the artificial intelligence trade. Oil fell. Contracts on the Nasdaq 100 Index advanced 1.3%, while those for the S&P 500 climbed 0.8% following Friday’s selloff on Wall Street.
Last week’s losses saw a closely watched semiconductor gauge post its longest run of declines since 2008, while the volatility index recorded its biggest jump since June.
The MSCI Asia Pacific Index pared earlier losses to trade down 0.2%. European stock futures and French 10-year bond futures eased after widespread protests in France over the weekend.
The euro weakened against most of its Group-of-10 peers, while US Treasuries rose on haven demand. Bitcoin climbed more than 2% to above $82,000.
Oil retreated from a five-month high as traders weighed flare-ups in fighting in the Middle East against signs supply from the region was holding near pre-war levels.
Global crude oil benchmark Brent dropped 1.8% to $107.90 a barrel. Earnings from US megacap companies including Tesla Inc. and Meta Platforms Inc. this week will test investor confidence in the AI trade after its recent setbacks.
