Tech Stocks Rebound Amid Middle East Tensions and Inflation Concerns

S&P 500 and Nasdaq futures rose as chip stocks rebounded after substantial losses. Investor concerns over Middle East tensions and inflation remain, with attention on upcoming consumer price reports. U.S. airline stocks dropped due to rising fuel costs while Nvidia, Broadcom, and Micron saw premarket gains.

In a promising start to the week, S&P 500 and Nasdaq futures climbed on Monday, signaling a rebound of chip stocks after significant losses last week. Despite the positive movement, investor sentiment remained cautious due to renewed Middle East strikes.

Nvidia, Broadcom, and Micron Technology shares rose between 1.5% and 3.9% in premarket trading, recovering from a recent selloff that resulted in a $1 trillion loss in market value for U.S.-listed chipmakers. The market correction comes amidst fears of rapid sector growth and rising interest rates.

Market players remain attentive to consumer price reports expected this week, which could shed light on how Middle East tensions and increased energy prices are impacting inflation. Meanwhile, airline stocks faced downward pressure on concerns of escalating fuel costs, while Eli Lilly announced promising results for its new obesity drug.