Nasdaq Vadeli İşlemleri, Chipmakers'ın Önemli ABD İstihdam Raporu Öncesinde Bir Destek Sağlamasıyla Yükseliyor

Nasdaq Futures Climb as Chipmakers Provide a Boost Ahead of Key U.S. Jobs Report

Oleksandr Pylypenko

Fri, September 4, 2026 at 1:23 PM GMT+3 9 min read

September Nasdaq 100 E-Mini futures (NQU26) are up +0.51% this morning, led by advances in chip and other AI-linked shares, while investors await the key U.S. jobs report for fresh clues on the Fed's interest-rate path.

Chip and AI infrastructure stocks gained in pre-market trading as lower bond yields eased pressure on their valuations. Sandisk (SNDK) and Marvell Technology (MRVL) were up over +2%, while Micron Technology (MU), Intel (INTC), and Advanced Micro Devices (AMD) were up more than +1%.

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The price of WTI crude edged lower on Friday but was on track for its biggest weekly gain since July as renewed U.S.-Iran hostilities fueled concerns about prolonged disruptions to energy flows through the Strait of Hormuz. Longer-dated Treasuries advanced, with the 10-year T-note yield falling one basis point to 4.76%.

In yesterday's trading session, Wall Street's major indices closed sharply higher. The Magnificent Seven stocks climbed, with Tesla (TSLA) rising over +5% and Meta Platforms (META) gaining more than +3%. Also, cryptocurrency-exposed stocks rallied as Bitcoin surged above $81,000, with Strategy (MSTR) jumping over +17% to lead gainers in the Nasdaq 100 and Coinbase Global (COIN) advancing more than +10%. In addition, Snowflake (SNOW) popped over +16% after the software company posted upbeat Q2 results and raised its full-year product revenue guidance. On the bearish side, Broadcom (AVGO) fell more than -2% after the chip designer issued soft FQ4 revenue guidance.

Economic data released on Thursday were supportive of equities. The Labor Department said the number of Americans filing for initial jobless claims in the past week rose by +2K to 206K, compared with the 205K expected. Also, the U.S. ISM services index climbed to a 6-month high of 55.4 in August, stronger than expectations of 54.2. In addition, U.S. Q2 nonfarm productivity was left unrevised at +1.4% q/q, in line with expectations, while unit labor costs were revised downward to +1.2% q/q, weaker than expectations of +1.3% q/q. Finally, the U.S. July trade deficit widened to -$88.6 billion, narrower than expectations of -$89.4 billion.

Fed Governor Christopher Waller said on Thursday that August inflation data will play a key role in his decision on whether to raise or hold interest rates steady at the upcoming FOMC meeting. Waller said that while inflation remains "meaningfully" above the Fed's 2% target, recent data showed some signs of disinflation. "If this [disinflation] continues in the data due over the next two weeks, I would be inclined to support holding the target for the federal funds rate at its current setting," he said.

Meanwhile, U.S. rate futures have priced in a 52.4% probability of a 25-basis-point rate hike and a 47.6% chance of no rate change at the September 15-16 meeting.

Today, all eyes are on the U.S. Nonfarm Payrolls report, which is set to be released in a couple of hours. Economists estimate that August nonfarm payrolls will increase by 55K after the unexpected 23K dip in July. Such a figure would be broadly consistent with the average pace of job growth this year.

Investors will also focus on the U.S. Unemployment Rate. Economists anticipate that the jobless rate will remain steady at 4.1% in August.

U.S. Average Hourly Earnings data will be released today as well. Economists expect average hourly earnings to rise +0.3% m/m and +3.0% y/y in August, compared with +0.1% m/m and +3.2% y/y in July.

"A Goldilocks report will help reduce rate hike concerns, which should lower yields, and that could spark a solid rebound in stocks," said Tom Essaye at The Sevens Report. "Conversely, a 'too hot' report will only further reinforce fears of more rate hikes, and we can expect yields to rise and stocks to drop."

The S&P 500 Index is expected to move 0.7% in either direction today, matching the average realized move on jobs-report days over the past 12 months, according to options-market data compiled by Citigroup. September S&P 500 E-Mini futures (ESU26) were little changed on Friday morning.

In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.76%, down -0.19%.

On Monday, U.S. stock and bond markets will be closed in observance of Labor Day.

The Euro Stoxx 50 Index is down -0.02% this morning as caution prevails ahead of the key U.S. jobs report, with investors waiting to see whether it will give the Fed enough justification to keep interest rates unchanged this month. Chemical and bank stocks were among the biggest losers on Friday. At the same time, technology stocks climbed, extending yesterday's gains. Automobile stocks also advanced, led by a more than +5% gain in Volkswagen (VOW3.D.DX) after the company announced a major restructuring. The benchmark index is on track to post losses for the week. Data from Eurostat released on Friday showed that the Eurozone's monthly retail sales unexpectedly fell in July, marking the first decline since April and the sharpest since May 2025. Separately, data showed that Germany's monthly factory orders rose for a third consecutive month in July, another sign that the country's tentative industrial recovery is weathering the impact of soaring energy prices stemming from the Middle East conflict. Elsewhere, European government bond yields were little changed on Friday after falling in the previous session. In other corporate news, Vodafone Group Plc (VOD.LN) rose over +1% after Goldman Sachs upgraded the stock to Buy from Sell.

Germany's Factory Orders and Eurozone's Retail Sales data were released today.

The German July Factory Orders rose +2.5% m/m, stronger than expectations of +0.3% m/m.

Eurozone's July Retail Sales fell -0.6% m/m and rose +0.6% y/y, weaker than expectations of +0.3% m/m and +1.1% y/y.

Asian stock markets today settled mixed. China's Shanghai Composite Index (SHCOMP) closed down -0.30%, and Japan's Nikkei 225 Stock Index (NIK) closed up +1.26%.

China's Shanghai Composite Index closed lower today, dragged down by weakness in the tech sector. Semiconductor and other AI-related stocks slumped on Friday as investor enthusiasm for the group cooled. Limiting losses, consumer and financial stocks gained as investors rotated into traditional sectors. The benchmark index posted a weekly loss. Morgan Stanley analysts said in a note that Chinese equities could struggle to find a fresh catalyst in the near term unless policymakers roll out more forceful support measures or AI-driven gains lead to broader earnings growth. The bank lowered its June 2027 targets for major Chinese indexes, citing deteriorating economic data, tighter liquidity conditions, and less scope for additional investor inflows. Elsewhere, Reuters reported on Friday that Chinese banks have been purchasing U.S. Treasuries in recent months after raising dollar deposit rates, moves that could help curb the yuan's appreciation and come amid a surge in U.S. yields. Investor attention now shifts to China's trade and inflation data for August, due next week.

Japan's Nikkei 225 Stock Index closed sharply higher today, tracking an overnight rally on Wall Street spurred by Fed Governor Christopher Waller's remarks that he would support holding rates steady if price pressures continued to moderate. Technology stocks led the gains on Friday. Tech investor SoftBank Group surged over +11%, making it the biggest contributor to the Nikkei's gains. Shuutarou Yasuda at Tokai Tokyo Intelligence Laboratory said SoftBank got an extra boost from falling yields because the group relies on leveraged loans to invest in companies. Japanese government bonds extended their rally on Friday, with investors buying super-long maturities to reverse curve-steepening trades amid expectations that the Bank of Japan will speed up the pace of rate hikes. Meanwhile, the benchmark index notched a weekly loss as a surge in oil prices and global bond yields pressured equities during the period. On the economic front, data released on Friday showed that Japan's annual household spending fell for an eighth straight month in July as rising costs for everyday necessities led consumers to cut back on discretionary purchases. In corporate news, Nidec Corp. climbed over +5% after the company released an independent investigation report on quality issues. The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed down -3.99% to 27.19.

The Japanese July Household Spending rose +0.5% m/m and fell -3.6% y/y, weaker than expectations of +2.6% m/m and -1.6% y/y.

Pre-Market U.S. Stock Movers

Chip and AI infrastructure stocks gained in pre-market trading. Sandisk (SNDK) and Marvell Technology (MRVL) were up over +2%, while Micron Technology (MU), Intel (INTC), and Advanced Micro Devices (AMD) were up more than +1%.

Samsara (IOT) jumped more than +13% in pre-market trading after the software company reported stronger-than-expected Q2 results and boosted its annual guidance.

AMC Entertainment (AMC) climbed over +7% in pre-market trading after CEO Adam Aron criticized Robinhood Markets for its tokenized stocks and called on the company to stop offering tokenized AMC stock.

Lululemon Athletica (LULU) tumbled over -18% in pre-market trading after the activewear retailer posted weaker-than-expected Q2 revenue and cut its full-year guidance.

Adobe (ADBE) fell more than -2% in pre-market trading after the company named Anil Chakravarthy, who has led its customer experience arm for the past six years, as its new chief executive.

You can see more pre-market stock movers here

Today's U.S. Earnings Spotlight: Friday - September 4th

Apnimed (APMD), Apartment Investment and Management Company (AIV), Pro-Dex (PDEX).

On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com