Nasdaq futures rise 310 points as markets reopen

Nasdaq futures jumped about 310 points Monday as U.S. markets reopened after the Independence Day holiday. S&P 500 futures rose roughly 0.5% and Nasdaq-100 futures climbed about 1.1%, while futures tied to the Dow were near flat. Last week the Dow closed at a record high and the three major indexes each gained around 2% following a holiday-shortened session.

Semiconductor stocks traded higher in premarket action after a recent pullback. Western Digital rose about 5.5%, Seagate added 4.4% and Micron Technology gained roughly 3.4%. Market participants are watching whether market leadership broadens beyond large AI-focused technology companies into healthcare, industrials and financials.

South Korea’s SK Hynix launched a U.S.-listed ADR sale worth about $28 billion. SK Hynix supplies high-bandwidth memory used in AI systems; the offering will test investor demand for companies tied to the AI hardware supply chain.

Brent crude fell about 0.5% to $71.76 a barrel, near four-month lows, after OPEC+ agreed to raise August output targets by roughly 188,000 barrels per day. Continued shipping through the Strait of Hormuz reduced immediate concerns about a supply interruption.

Economic releases this week include the ISM services index, due Monday and forecast near a reading of 54, and the Federal Reserve’s minutes, due Wednesday. Delta Air Lines and PepsiCo are scheduled to report quarterly results later in the week.

Traders are set to react to the ISM reading and the Fed minutes, and sector flows may concentrate on semiconductors and other technology suppliers linked to AI demand.