#纳斯达克100期货上涨1.4% On the previous trading day (November 5), the Nasdaq 100 spot index plunged 6.36%, while overnight futures hit a low near 26,366. Around 4:14 a.m. on the 6th, Nasdaq 100 futures rebounded about 1.48% (what the market called a “1.4% gain”); NVDA rose 2.4% overnight, AMD and MU gained over 5%, and AVGO also recovered.
The plunge was driven by three sources of pressure: ① After the midterm elections, Democrats took control of Congress, raising concerns that AI regulation and data center expansion could be restricted; ② WTI climbed above $90 and Brent neared $99, reviving inflation expectations, while CME pricing put the probability of a December rate hike above 65%–80%; ③ Doubts over whether massive AI capital expenditures will pay off triggered a wave of panic selling.
The rebound, meanwhile, was driven by bargain hunting after the sell-off, relief from regulatory fears after Texas said it had “approved data centers to continue construction,” and a recovery in the chip sector.
Outlook: Short term 📉—with the jobs report approaching, volatility still elevated, and futures below the 50- and 200-day moving averages, the rebound looks more like a dead-cat bounce. Long term 📈—the AI infrastructure and cloud capex cycle remains intact, and the core narratives for NVDA, AMD, AVGO, and MU are still in place.
Stronger-than-expected hawkish macro data or the actual implementation of regulations could trigger another round of valuation declines.
$MU
$NVDA
$AMD
The plunge was driven by three sources of pressure: ① After the midterm elections, Democrats took control of Congress, raising concerns that AI regulation and data center expansion could be restricted; ② WTI climbed above $90 and Brent neared $99, reviving inflation expectations, while CME pricing put the probability of a December rate hike above 65%–80%; ③ Doubts over whether massive AI capital expenditures will pay off triggered a wave of panic selling.
The rebound, meanwhile, was driven by bargain hunting after the sell-off, relief from regulatory fears after Texas said it had “approved data centers to continue construction,” and a recovery in the chip sector.
Outlook: Short term 📉—with the jobs report approaching, volatility still elevated, and futures below the 50- and 200-day moving averages, the rebound looks more like a dead-cat bounce. Long term 📈—the AI infrastructure and cloud capex cycle remains intact, and the core narratives for NVDA, AMD, AVGO, and MU are still in place.
Stronger-than-expected hawkish macro data or the actual implementation of regulations could trigger another round of valuation declines.
$MU
$NVDA
$AMD