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semiconductor / news / / Devdiscourse

S&P 500 and Nasdaq futures climbed on Monday, signaling a rebound of chip stocks.

Nvidia, Broadcom, and Micron Technology shares rebounded up to 3.9% in premarket trading.

KEY POINTS
In a promising start to the week, S&P 500 and Nasdaq futures climbed on Monday, signaling a rebound of chip stocks after significant losses last week. Despite the positive movement, investor sentiment remained cautious due to renewed Middle East strikes. Nvidia, Broadcom, and Micron Technology shares rose between 1.5% and 3.9% in premarket trading, recovering from a recent selloff that resulted in a $1 trillion loss in market value for U.S.-listed chipmakers. The market correction comes amidst fears of rapid sector growth and rising interest rates. Market players remain attentive to consumer price reports expected this week, which could shed light on how Middle East tensions and increased energy prices are impacting inflation. Meanwhile, airline stocks faced downward pressure on concerns of escalating fuel costs, while Eli Lilly announced promising results for its new obesity drug. (With inputs from agencies.)
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