U.S. stock futures rose early Monday after the S&P 500's worst week since the April 2025 tariff shock. The bounce came without the world's most valuable chipmaker. Nvidia fell before the open after its board opened an investigation tied to Chief Executive Jensen Huang.

At 6:39 a.m. ET, Dow E-mini futures were up 545 points, or 1.06 percent, Reuters reported. S&P 500 E-minis were up 49 points, or 0.66 percent, and Nasdaq 100 E-minis were up 112.5 points, or 0.42 percent. The gains had widened since 5:10 a.m. ET, when Dow futures were up 0.73 percent, S&P 500 futures 0.40 percent and Nasdaq 100 futures 0.21 percent. Those are futures prices before the opening bell, not closes.

Nvidia was down about 4.5 to 5 percent in premarket trading, according to Reuters. On Sunday the company said its board was starting an independent investigation "in light of recent reporting that founder and CEO Jensen Huang has been the target of a foreign intelligence effort." The board said it had no reason to believe that national security or Nvidia secrets were compromised.

A rebound, then the weekly tally

Friday looked like the end of the rout. The Nasdaq Composite rose 264.43 points, or 1.09 percent, to 24,579.42, the AP reported. The S&P 500 gained 23.13 points, or 0.31 percent, to 7,376.86. The Dow Jones Industrial Average fell 237.33 points, or 0.46 percent, to 51,285.73.

The week says otherwise. The Nasdaq lost 3.4 percent, the S&P 500 fell 2.7 percent and the Dow slipped 0.9 percent. For the S&P 500, the AP said, it was the worst week since the April 2025 tariff shock.

Most of that came on Thursday. The Nasdaq dropped 5.5 percent, the S&P 500 4.4 percent and the Dow more than 1,800 points, or 3.4 percent, the worst one-day losses since April 2025, CNBC reported. The Nasdaq closed Thursday nearly 12 percent below its Oct. 6 record, past the 10 percent threshold for a correction, Reuters reported. The S&P 500 technology sector fell 7.3 percent that day and the Philadelphia semiconductor index more than 12 percent. For both, those were the biggest one-day drops in more than six years.

"We are now seeing something of a buyers' strike in tech," Keith Lerner of Truist told Reuters. Tech has lagged the S&P 500 over the past month by the most since May 2002, Reuters reported.

The objection to calling it a collapse is the year-to-date line. Even after the week, the S&P 500 was still up nearly 8 percent in 2026, according to Reuters. A correction in the Nasdaq is a fact. A broken bull market is a story that still needs more closes to prove it.

Asia splits

Asian markets closed mixed on Monday, according to The Edge's regional wrap of exchange data. Taiwan's Taiex jumped 4.94 percent to 41,661.70, recovering part of Friday's 4.51 percent drop and ending a seven-session losing streak. Bloomberg reported that the rally followed measures by Taiwan authorities to restore investor confidence. Taiwan shares had their worst week since 2001 last week, Reuters reported.

Japan's Nikkei 225 rose 2.33 percent to 58,775.50, ending five straight declines, and the broader Topix gained 2.97 percent. South Korea's Kospi fell 0.81 percent to 5,018.85. Hong Kong's Hang Seng slipped 0.13 percent to 24,448.95, and the Shanghai Composite rose 0.32 percent to 3,660.79. Singapore's market was closed for a holiday.

What the week has to prove

The bullish claim is simple: Friday's rebound and Monday's futures say the selling has run its course. The objection is just as simple. Futures are not closes, and the smallest gain on Monday morning was in Nasdaq 100 futures, while the Nasdaq led last week's losses.

The prints that settle it arrive on a schedule. KKR and Constellation Energy report earnings Monday. The Bureau of Labor Statistics publishes October consumer prices on Tuesday, Nov. 10. CoreWeave, Applied Materials and Cisco report later in the week, Reuters said, putting AI spending and chip equipment back under a closing price rather than a premarket quote.

Inflation is the bigger test for the whole tape. The Federal Reserve held rates in October after raising them in September, its first increase in three years. After Friday's jobs report, fed funds futures priced about an 80 percent chance of another hike at the Dec. 8–9 meeting, according to LSEG data cited by Reuters. A hot CPI number would ask stocks to absorb tighter money and a tech correction in the same week.