US Futures Extend Gains After Payrolls Beat as Chip Stocks Rally
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergStock futures touched session highs on Friday as top semiconductor stocks gained after the monthly payrolls report showed hiring rose more than anticipated. Oil held steady as the Iran ceasefire appeared intact even with overnight clashes near the Strait of Hormuz.
S&P 500 futures were up 0.6% as of 8:33 a.m. in New York, and Nasdaq 100 contracts added 0.9%. Heavyweight chips stocks Nvidia Corp., Micron Technology Inc. and Qualcomm Inc. rose while Microchip Technology Inc. climbed 1.4% after earnings beat estimates. West Texas Intermediate crude oil was little changed at about $95 a barrel.