On September 29, the Nasdaq Composite index showed signs of recovery following a decline in the previous session. Nasdaq-100 futures rose by 0.2% to 0.4% during early trading hours.
The market downturn on September 28 resulted in a close at 26,820.38, marking a loss of 248 points or 0.92%. This drop was largely attributed to rising bond yields.
Nvidia announced an expansion of its share repurchase program by $150 billion, which served as a primary catalyst for the rebound in semiconductor stocks.
Trading volumes increased for companies including Micron Technology, Broadcom, and AMD as investors returned to the semiconductor sector.
The 10-year Treasury yield reached approximately 5.26%, a level not recorded in about 19 years, impacting the valuation of risk assets like technology stocks.
