Stock Futures Rebound as Wall Street Braces for Earnings, Jobs Data and US Midterms

US stock futures moved higher early Monday after a down week for equities. S&P 500 futures rose 0.4%, Nasdaq-100 futures gained 0.9%, and Dow futures added 186 points, or 0.4%. Last week, the S&P 500 and Dow each slipped less than 1%, while the Nasdaq Composite lost 2% as traders kept questioning the AI buildout. October was rough for tech, with the Nasdaq posting its worst monthly drop since March 2025, though the Dow gained nearly 2% as money rotated into defensive sectors like healthcare.

Why Tech Stocks Are Under Pressure

Anthropic’s public IPO filing lifted AI-linked shares early in the week, but selling returned after Alphabet and Microsoft issued weaker capex forecasts and Amazon left its yearly guidance untouched. Warren Pies of 3Fourteen Research sees nothing broken in the AI trade and says only the technicals look weak.

Asia and Europe Markets Update

In Asia, South Korea’s Kospi led with a 2.4% jump to 5,859.08, Japan’s Nikkei 225 added 0.33% to 63,081.86, and mainland China’s CSI 300 rose 0.79%.

Midterm Elections and Economic Calendar

Democrats are expected to win the House on Tuesday, with the Senate still uncertain. Horizon’s Mike Dickson noted that stocks usually stay steady whichever party controls Congress. Apple reports after the bell Monday, with Palantir and AMD also due this week, while October payrolls on Friday are forecast at 55,000 jobs versus 29,000 before. The Bank of England is expected to deliver its first hike of the cycle on Thursday, and oil has touched a six month high of $117.64.