Nasdaq Soars as Earnings Boost Tech Shares, Jobs Report Looms Large

The US stock market is set for a strong week, with major indexes heading for their strongest performance since April. The Nasdaq futures have surged by 120 points or 0.5%, after AI-linked earnings helped push technology shares higher.

Atlassian led the pre-market gains, surging by around 30% after beating revenue expectations and accelerating cloud growth. Microchip Technology also climbed roughly 9% after forecasting quarterly revenue above estimates.

The Labor Department's July jobs report is due out later today, which could settle the debate over whether the Federal Reserve will raise interest rates in September. A strong employment report could lift short-term Treasury yields and put pressure on expensive growth stocks, while a weak one could have the opposite effect.