Nasdaq futures jump after AI rout; October jobs due
Nasdaq 100 futures rose more than 1% early Friday as chip stocks steadied after Thursday's AI-led selloff pushed the Nasdaq Composite into a correction. Investors also awaited the October jobs report for clues on the Federal Reserve path.
AI-assisted · US Brief desk · Sources listed below
What happened
U.S. equity futures steadied Friday after a tech-led rout. Reuters reported that around 6:24 a.m. ET, Nasdaq 100 futures were up about 1.41%, S&P 500 futures up about 0.29%, and Dow futures down about 0.91%. Nvidia was indicated up about 4.5% in premarket trading after its worst session since January 2025, Reuters said, with AMD, Intel, Broadcom, and Micron also higher between roughly 4.6% and 8.2%.
Thursday's damage (cash closes): Axios said the Nasdaq Composite fell 5.5% Thursday — its worst day since the April 2025 tariff scare — and was down about 10% from its high a month earlier. The Nasdaq 100 dropped 6.4%, the SOX semiconductor index 12.3%, and the S&P 500 4.4%, Axios reported. CNBC noted Nvidia lost 9.3% and AMD 17.3% in that session.
What traders blame: Investors fear Democratic control of Congress and state-level backlash could slow data-center buildout after almost all related midterm ballot measures went against the industry, Reuters and CNBC reported. Jefferies strategist Jane Gibbons told Reuters she views Thursday as "reactionary, not a fundamental reset," driven by colliding worries about AI spending, policy, and inflation.
Why it matters
Thursday's cash session pushed the Nasdaq Composite into correction territory after a midterm shock to the AI data-center trade. A futures bounce does not erase that damage; it shows overnight dip-buying ahead of the October employment report.
What’s next
Cash open confirmation, the actual jobs print versus pre-release forecasts, oil's hold near Thursday's rebound levels, and whether chip leaders keep Friday's premarket gains into the close.
More context
Jobs report hinge: The Labor Department was due to release the October employment report at 8:30 a.m. ET. Market previews circulating Friday morning pointed to a soft-to-moderate payroll print; treat any specific consensus figure as provisional until the Labor Department releases the report. Softer payrolls could cool rate-hike fears; a hot print could extend pressure on richly valued tech.
Weak spot: Premarket gains often fade at the open after crash days. Asia already showed contagion — Reuters noted South Korea's Kospi and Taiwan's benchmark posted heavy weekly losses — so a U.S. futures bounce is not proof the AI trade has stabilized.
4 listed sources
- Reuters via Investing.com, Nov. 6, 2026
- CNBC, Nov. 6, 2026
- Axios, Nov. 6, 2026
- Investing.com (analysts react), Nov. 6, 2026
References listed by US Brief; a source count is not a verification score.
Editorial sourcing notes
Futures prints and premarket chip moves from Reuters (Investing.com) as of about 6:24 a.m. ET Friday. Thursday cash closes from Axios/CNBC. Jobs-report timing 8:30 a.m. ET from standard BLS calendar; refresh after the print. All Friday figures are futures/premarket unless labeled as Thursday closes.
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