US tech stocks rebounded before market opening, led by Amazon, among the "Big Seven Tech Giants".
After disappointing profit outlook, Amazon's stock price plummeted more than 8%, but in pre-market trading on Monday, the stock led the way higher among the "seven tech giants". Movements of the "seven tech giants": Amazon rose 1.5%, Tesla rose 1%, Meta rose 1%, Nvidia rose 1%, Apple rose 0.9%, Alphabet rose 0.9%, Microsoft rose 0.8%. The Bloomberg "seven tech giants" index, which doubled in 2023 and rose 67% in 2024, has risen 4.1% so far this year. S&P 500 futures and Nasdaq 100 futures rose by about 0.7% as investors hoped that the Federal Reserve would cut interest rates to rescue the market after dismal job data was released in the U.S. last Friday.
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