Commodities
Chip Stocks Fuel Nasdaq Rally Despite Oil Price Concerns
Nasdaq futures rose on Friday as chip stocks gained ground, offsetting concerns about oil prices and rising Treasury yields.
The Nasdaq 100 index futures advanced by 0.61%, while Dow and S&P 500 futures climbed 0.31% each, according to Reuters.
Advanced Micro Devices, Marvell, Cerebras, and Intel gained around 2% in premarket trading, reflecting renewed interest in companies tied to AI products and computing.
Akamai Technologies surged 21% after announcing an $11.6 billion cloud services deal with Anthropic, while Meta's shares were little changed despite approaching a $2 trillion market value.