SOXX is trading at $531.25 (+1.81%) as semiconductor stocks rebound in pre-market trading, reversing a portion of Friday's heavy selling as U.S. futures turn higher.
- The recovery follows signs of stabilization in Asian markets after last week’s sharp AI-chip pullback, though the sector remains under pressure from valuation concerns and doubts regarding the durability of AI capital expenditures.
- Early buying suggests short-covering after a significant unwind, even as the sector continues to digest the recent TSMC capex reset and wider risk-off sentiment.
- Broader market indices are trending positive before the open, while an overnight spike in oil prices and geopolitical tensions are supporting some rotation into cyclical sectors.