US equities stabilised following a sharp decline on Friday, with the NASDAQ rising by +0.86% and the Philadelphia semiconductor index surging +5.61%, recovering about half of its previous -10.26% drop [1]. The S&P 500 posted a modest gain of +0.30%, recouping only a small portion of Friday’s -2.64% loss, as nearly two-thirds of its constituents ended lower. Technology and energy were the only sectors to show clear gains, while the Mag-7 group lagged, led by Apple’s -1.89% decline after a muted response to its latest AI platform [1].
Danske Bank highlighted that the US rebound contrasted with weakness in Far East markets, which initially dragged global indices lower before Asian markets caught up with the US recovery. Technology and energy drove the US advance, but most sectors remained in the red. The dominant market themes were the AI buildout and news related to Iran, with rising oil prices also influencing market movements [2].
In the tech sector, OpenAI confidentially filed for a US IPO, joining Anthropic in seeking to capitalize on strong investor demand for AI exposure. While deal size, terms, and timing were not disclosed, Reuters reports OpenAI is targeting a valuation of up to USD 1 trillion, with a potential listing as early as September. This coincides with a planned SpaceX IPO on Friday, intensifying competition for investor capital among OpenAI, Anthropic, and SpaceX [2].
European equities showed clearer weakness, with the STOXX 600 falling -0.15% for a second consecutive session, the DAX down -0.58%, and the CAC 40 off -0.23%. Italy’s FTSE MIB outperformed, rising +0.63%. European futures opened slightly lower, while US futures were higher, again led by technology [1][2].
CONCLUSION
US tech stocks led a partial rebound following Friday’s slump, but overall market breadth remained weak, with most S&P 500 constituents declining and Apple underperforming. AI IPO activity and rising oil prices are shaping investor sentiment, while European and Asian markets are reacting unevenly to US moves. The market remains cautious, with technology and energy sectors driving gains amid broader weakness.