U.S. stock index futures rebound, chip stocks recover, with market attention on Iran-Israel tensions and SpaceX IPO
BlockBeats reported that on June 8, all three major US stock index futures rose in pre-market trading on Monday. Nasdaq 100 futures rose by 1.1%, S&P 500 futures increased by 0.6%, and Dow futures went up by around 85 points. Previously, the Nasdaq Composite Index plunged 4.2% last Friday due to profit taking in chip stocks, marking its largest single-day drop since April 2025.
Chip stocks rebounded on Monday, with memory chip manufacturer Micron Technology rising over 3% in pre-market trading after plunging 13% last Friday. NVIDIA and Broadcom also moved higher before the opening bell. The Philadelphia Semiconductor ETF (SOXX) climbed 2.4% in early Monday trading, after it plunged 10% last Friday, the largest single-day loss in more than six years.
Regarding the Middle East situation, Iran launched a missile attack on Sunday, raising market concerns about the stability of the ceasefire agreement. The Israeli Defense Forces subsequently announced that they had carried out a “large-scale strike” on Iran’s strategic defense system. International oil prices rose, with WTI crude surpassing $92 per barrel, but later retreated from highs as US President Trump said that Israel and Iran were seeking an “immediate ceasefire.”
Asian markets generally retreated, dragged down by last Friday’s sharp drop in the Nasdaq. The Korea Composite Index (Kospi) closed down by more than 8%, while Japan’s Nikkei 225 ended down 3.85%.
Callie Cox, chief market strategist at Ritholtz Wealth Management, stated that the stock market may be becoming a victim of its own success. Even though the job market has improved, persistent high inflation still worries markets. Growth stocks and momentum strategies performed too strongly since the March lows, and may now face correction pressures in an environment of high interest rates and high inflation.
This week, markets will also focus on US inflation data and the initial public offering (IPO) of Elon Musk’s SpaceX on Friday. This deal is expected to become one of the largest IPOs in Wall Street history, and may serve as a key point for investors to test the valuation logic for AI-related companies. Callie Cox noted that historically, super-large IPOs often occur when market sentiment is overheated; thus, SpaceX’s listing is particularly significant for market sentiment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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