NEW YORK, June 9, 2026, 06:01 EDT
- Nasdaq 100 futures moved up, pacing gains in U.S. index futures after chips bounced on Monday.
- Traders shrugged off last week’s tech slide for now. Apple, Nvidia, Oracle and some AI listings are drawing new attention.
- Traders are waiting for May CPI on Wednesday. A stronger inflation print could put rate hikes back on the table.
Nasdaq futures climbed Tuesday morning, pulling U.S. stock futures higher as traders bought back into tech ahead of a major inflation reading that could challenge the recovery.
Wall Street is weighing whether Friday’s plunge in tech stocks was just a reset or the start of a bigger shakeout for the AI trade. Nasdaq 100 futures rose 0.76%, S&P 500 futures gained 0.44%, Dow futures added 120 points, or 0.24%, and Russell 2000 futures climbed 0.88%, according to delayed futures data.
NYSE cash trading opens for a typical Tuesday, with the main session running from 9:30 a.m. to 4 p.m. Eastern. After today, the next scheduled U.S. market holiday on Nasdaq’s 2026 calendar is Juneteenth, set for June 19.
S&P 500 added 0.3% Monday, Nasdaq Composite climbed 0.86%, and Dow fell 0.16%. Philadelphia SE Semiconductor Index surged 5.6% after chip stocks lost $1 trillion in value Friday, Reuters said. “Today looks like a day where investors are doing a little bit of bargain hunting,” said Rick Meckler, partner at Cherry Lane Investments. Reuters
Premarket trading moved markets elsewhere too. Reuters said U.S. stock futures rose between 0.4% and 0.6% as Nvidia, Eli Lilly, and Goldman Sachs each added around 0.6% ahead of the open. “Wall Street bankers and CEOs are beside themselves with excitement,” said XTB research director Kathleen Brooks about the burst of big AI IPOs. She also noted caution was in the mix. Reuters
AI remains the main competition angle. OpenAI said Monday it had confidentially filed for a U.S. IPO, which would be its first public stock sale. Reuters reported OpenAI could seek a market cap as high as $1 trillion. Anthropic and SpaceX also have IPO plans in motion. Michael Ashley Schulman at Cerity Partners said OpenAI was “keeping options open” after Anthropic filed ahead of it. Reuters
Apple lagged in the pack. The stock fell 1.9% to $301.54 after the company showed off its long-awaited Siri AI overhaul at its developer event. Bob O’Donnell from TECHnalysis Research called it “AI for the masses,” while Craig Moffett at MoffettNathanson said the news was not “earth-shaking.” Paolo Pescatore of PP Foresight flagged an “inevitable tension between convenience and privacy.” Reuters
Inflation is up next for markets. The Consumer Price Index (CPI) comes out Wednesday at 8:30 a.m. ET, with the Producer Price Index (PPI) following on Thursday, according to the Bureau of Labor Statistics schedule. The CPI tracks prices shoppers pay. The PPI looks at wholesale prices.
The bounce faces a key risk. If CPI or PPI comes in hot, Treasury yields could climb again, and that would put more pressure on expensive tech names. Oil also matters. If crude jumps, especially with Middle East supply issues, the Fed could find it even harder to look past inflation.
Rate markets are already moving that way. Fed funds futures priced in a 70% shot at a rate hike by December after a strong jobs report on Friday, according to Reuters. Kevin Flanagan, head of investment strategy at WisdomTree, said, “I don’t think the Fed is there yet,” and pointed to the need for more jobs and CPI numbers before the Fed goes back to “rate hike mode.” Reuters
Policymakers got some quieter news. The New York Fed said in a survey Monday that year-ahead inflation expectations fell to 3.5% in May from 3.6% in April. But people in the survey said they were more worried about their finances. Cleveland Fed President Beth Hammack said a shift in expectations away from the Fed’s 2% target would be a red flag, but added, “I’m not seeing signs of that right now.” Reuters
Traders are sticking with the rebound for the time being. Oracle reports earnings Wednesday, seen as the next look at AI-related cloud demand. Apple’s muted response points to investors still picking through which names win or lose in the same space. The open could trade higher, with the real test coming later.
