Quick overview

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Nasdaq 100 futures ( NQ ) are maintaining solid positive momentum this morning, trading up 0.66% to 0.83% around the 29,750 – 29,800 range. Technology contracts are pacing the broader pre-market action as growth stocks attempt a decisive bounce back from the profit-taking that clipped the sector last week.

Investors are selectively wading back into high-profile AI and large-cap tech names after the tech benchmark suffered a sharp pullback last week. Despite broader concerns that parts of the AI ​​rally have gotten overcrowded, early bids suggest buyers are stepping in to defend the structural tech narrative.

The tech landscape continues to draw support from Friday’s unusually soft nonfarm payrolls report (57,000 jobs added versus the 110,000+ forecast). Because growth and technology multiples are highly sensitive to borrowing costs, the cooler labor data has reduced fear of aggressive near-term interest rate hikes from the central bank, providing a lift to risk assets.

 Overnight activity in Asian semiconductor hubs such as Tokyo and Seoul remained volatile, keeping a lid on an all-out surge. However, significant capital raises in the AI ​​chip supply chain—such as South Korea’s SK Hynix plotting deep US market expansions—underscore that the long-term capital expenditure tailwinds for technology remain highly active.

Technical Levels to Watch

Following the holiday recess, the Nasdaq 100 remains in a defined consolidation window just below its recent local highs. Traders are keeping a close eye on the psychological 29,900 line in morning trade, with firmer overhead structural resistance mapped near 30,260 – 30,450 . On the downside, the morning’s bids are establishing immediate support around 29,550 .