Investors have started buying back tech stocks, but concerns remain — online
Tech stock futures are rebounding after yesterday's plunge / Photo: Shutterstock.com
The sell-off in U.S. tech stocks, which led to a record drop in the market capitalization of the S&P 500 and the Nasdaq Composite on November 5, appears to have come to an end. Nasdaq 100 index futures are up more than 1% ahead of the main session’s opening. However, the Dow Jones blue-chip index is set to open lower—its futures are down nearly 1%.
Pre-market movements do not guarantee how the trading day itself will unfold. In addition, investor anxiety persists—the CBOE Volatility Index (VIX), known as the “Wall Street fear index,” remains above the 26-point level it surged to the previous day. Oninvest will be monitoring market developments in this live feed.
1:30 p.m. CET: Investors are awaiting the release of monthly U.S. employment data today, which could provide clues about the trajectory of the Fed’s interest rate. According to a Bloomberg Economics forecast, nonfarm payrolls are expected to show moderate growth of 26,000, while the unemployment rate is likely to remain around 4.2%. Neither of these indicators will prevent the Fed from raising rates in December, the agency’s analysts noted.
“The market’s immediate focus will likely remain on AI and data centers, but a strong jobs report could help ease some of the current market jitters by bolstering confidence in the sustainability of the economic cycle, — said Francisco Simón, a strategist at Santander Asset Management. — We continue to believe that cyclical employment has room for further expansion amid corporate earnings and investment.”
10:10 a.m. CET: What Wall Street analysts are saying:
“I expect a moderate rebound today—opportunistic investors will be picking out the hardest-hit stocks,” Bloomberg quotes Singular Bank strategist Roberto Scholtes as saying. According to him, the market is waiting for signals regarding the Democratic Party’s intentions concerning data centers—if politicians assure the market that they do not plan to impose a nationwide moratorium on the construction of new facilities, investor sentiment will turn around.
The main question for investors is whether the November 5 sell-off was a temporary correction or the start of a deeper stock market pullback. “I would expect selective buying following such a sharp correction,” noted Mapfre AM strategist César Jimeno. “However, in the short term, investors will likely remain cautious, avoid aggressively increasing their risk exposure, and wait for greater clarity—especially after the less-than-convincing reports and forecasts from key players in the sector.”
1:00 p.m. CET: There are less than three hours left until the main session opens in New York.Here's what's happening in the markets right now:
Nasdaq 100 futures rose 1.7% after falling 6.4% the previous day. In premarket trading, Nvidia shares are up nearly 4%, Micron Technology shares are up nearly 10%, Broadcom shares are up 5%, Qualcomm shares are up 4%, and Intel shares are up nearly 7%.
Investors are snapping up shares of so-called “neoclouds,” which had plummeted the day before: Nebius’s pre-market price is up more than 10%, and CoreWeave’s is up 9%. IREN shares soared more than 19% after the company reported a threefold increase in revenue from cloud services and a reduction in losses in the past quarter.
S&P 500 futures are showing a moderate gain of 0.4%. Dow Jones futures are down 0.9%.
The so-called Wall Street fear index, the VIX, is down 5%—but that doesn’t make up for yesterday’s rise. The index remains near the 27-point mark, a level it last reached in April 2026 amid the escalation of the war in the Middle East.
Asian stock markets closed lower: South Korea’s KOSPI index fell 6%, and Japan’s Nikkei 225 dropped by the same amount. Hong Kong’s Hang Seng Index fell 1.3%.
The Stoxx 600, a benchmark index of European stocks, is down 1.8%.
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This article was AI-translated and verified by a human editor
