Nasdaq 100 and US Indices: Tech Stocks Lead Recovery, But Headwinds Linger

Wall Street Rebounds After Post-Jobs Sell-Off, But Headwinds Remain

U.S. stock futures rose Monday morning, attempting to recover losses from Friday’s sharp drop triggered by weak employment data and a new wave of tariffs from the Trump administration.

S&P 500 futures gained 0.6%, Nasdaq 100 futures climbed 0.9%, and Dow futures added 195 points, or 0.5%, signaling a tentative bounce after the worst day for major indexes since spring.

The sell-off on Friday followed a disappointing July jobs report and a fresh round of tariffs ranging from 10% to 41% targeting dozens of U.S. trading partners. With employment softening and inflation showing persistence in the PCE data, investors are recalibrating expectations around economic resilience and monetary policy.

How Are Earnings Influencing Sector Sentiment?

Second-quarter earnings continued to send mixed signals. Berkshire Hathaway slipped nearly 1% premarket after a 4% drop in operating profit to $11.16 billion, mainly from weaker insurance underwriting. Despite the dip, Buffett’s cash reserves stood near a record at $344.1 billion, and the firm extended its streak of net equity selling to 11 quarters.

In contrast, Wayfair soared 9.5% after earnings and revenue topped expectations. The company posted $0.87 per share on $3.27 billion in sales, beating estimates of $0.33 and $3.13 billion, respectively. Energizer jumped 9% after a revenue beat and full-year EPS guidance raised to $3.55–$3.65, ahead of FactSet’s $3.37 consensus.

Which Companies Are Leading Pre-Market Movers?

Amphenol rose 2% after announcing a $10.5 billion acquisition of CommScope’s cable unit. CommScope surged 42% on the deal. Loews gained 2% after stronger-than-expected EPS of $1.87 on $4.56 billion revenue, a 7% increase year-over-year.

Tyson Foods added 4% on better-than-expected earnings and revenue. Tesla gained 2% after its board approved a $29 billion restricted stock award for CEO Elon Musk. Meanwhile, Spotify climbed 4% after announcing price hikes for individual premium plans.

Why Are Some Names Dragging on the Tape?

On Semiconductor dropped 7% following soft Q3 guidance, with the lower end of expected revenue missing consensus. Bruker declined 4% after cutting full-year earnings and revenue outlooks. Boeing edged lower as over 3,000 machinists in St. Louis went on strike following a labor dispute.

What’s the Market Outlook from Here?

Traders are cautious as they parse a fragile economic picture and uncertain policy path. With the Fed holding rates steady for a fifth meeting and reduced odds for a September cut, eyes are now on inflation prints and retail data.

August historically tends to underperform, particularly for the Dow, which hasn’t fared well in decades of data. While bullish sentiment holds, confidence needs support from both earnings strength and broader economic stability.

More Information in our Economic Calendar.