Wall Street rebounds as Nasdaq leads tech recovery after weekly losses
US stocks opened higher on Monday as investors returned to technology shares following steep losses the previous week.
KEY POINTS
- Nasdaq futures indicated a 1.06 percent gain before the opening
- CoreWeave rose 3 percent after a more than 25 percent weekly decline
- Intel gained 3.4 percent after a recommendation change
- Philadelphia Semiconductor Index broke an eight-session losing streak of about 15.7 percent
- Investors are awaiting corporate earnings announcements to set the tone for upcoming sessions
Wall Street opened higher on Monday, 19 October 2026, led by technology and semiconductor shares. Investors returned to tech stocks after heavy losses during the previous week.
Futures before the opening pointed to a 1.06 percent rise for the Nasdaq, 0.49 percent for the S&P 500, and 0.03 percent for the Dow Jones. The Dow Jones remained close to flat.
“Rubber bands can only be stretched so far in one direction before they snap and start moving in the opposite direction.”
CoreWeave shares rose 3 percent in pre-market trading after losing more than 25 percent of their value during the previous week. Intel gained 3.4 percent following a recommendation change.
The Philadelphia Semiconductor Index ended an eight-session losing streak, its longest since October 2008, during which it had fallen about 15.7 percent. Market attention is now shifting to upcoming corporate earnings announcements.
A Rosenblatt Securities strategist said oversold conditions created the basis for a rebound after the market had signaled it had had enough.
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