Stock Futures Jump Ahead of a Monster Week After a $5 Trillion AI Rout

Image source: Lummi

Stock futures opened higher Sunday evening as Wall Street prepares for a week packed with Apple earnings, the midterm elections, and $100 oil.

S&P 500 futures (ES=F), Nasdaq 100 futures (NQ=F), and Dow futures (YM=F) were all higher, with the tech-heavy Nasdaq leading the way after last week's AI selloff.

The selloff that closed out October was brutal but narrow. The biggest AI and chip stocks have lost about $5 trillion in market value since Oct. 6, according to Yahoo Finance calculations, while the other 625 large US stocks in that tally added about $1.3 trillion.

Last week drove it home. The S&P 500 (^GSPC) slipped about 0.6%, yet 9 of its 11 sectors rose about 1% or more. No other down week for the index since at least 1999 has had more than seven, according to Yahoo Finance calculations.

What comes next is up for debate. One reading of history says the tech meltdown could get a lot worse before it's over. Another says the stock market's sweetest stretch starts now: from the end of a midterm October through the following June, the S&P 500 has risen every time since 1950. Both could turn out to be true, since the October selloff showed that the rest of the market can climb while tech sinks. Yahoo Finance reports.

💊 Why Inovio Pharmaceuticals Shares Are Trading Higher by Over 230%

Shares of Inovio Pharmaceuticals Inc. (NASDAQ: INO) rose sharply in pre-market trading after the company disclosed that the FDA had granted accelerated approval for Voceryq for the treatment of adults with recurrent respiratory papillomatosis.

Inovio Pharmaceuticals shares jumped 230.5% to $1.99 in pre-market trading. Benzinga reports.

🌐 Affle to Acquire Perion, to Scale Its CPCU Business Across Developed Markets

Affle 3i Limited (BSE: 542752) (NSE: AFFLE), a global technology company that delivers premium consumer conversions for advertisers through its verticalized AI-powered Consumer Platform, today announced that its Israel-based step-down subsidiary, Affle 3iL Ltd. ("Affle"), has signed a definitive agreement to acquire all outstanding shares (including unvested equity awards as per the vesting schedule) of Perion Network Limited ("Perion") (NASDAQ: PERI) (TASE: PERI) at US$11.70 per share in an all-cash transaction for an implied equity value of approximately US$420 million.

Affle has an established track record of acquiring and successfully transforming businesses, complementing its organic growth journey with strategic acquisitions. PRNewswire reports.

🛢️ TotalEnergies Bets Big on Asia's Energy Hunger With Massive Malaysia Gas Deal

TotalEnergies SE (NYSE: TTE) announced Monday that it had signed agreements to acquire a 30% operated interest in two major offshore gas fields in Malaysia.

The move strengthens its natural gas business in Asia as regional demand for liquefied natural gas (LNG) grows.

The agreements cover the Lang Lebah and B14 gas fields off the coast of Sarawak. TotalEnergies will acquire the interests through agreements with PETRONAS Carigali Sdn Bhd, PTTEP, and KUFPEC.

Lang Lebah, one of Malaysia’s largest offshore gas discoveries, and the nearby B14 field will form an integrated development. Together, the fields are expected to unlock more than 6.5 trillion cubic feet of gas resources, equivalent to over 1 billion barrels of oil. Benzinga reports.

💾 What's Going on With Micron Technology Stock Monday?

Micron Technology Inc. (NASDAQ: MU) stock rose more than 2% in Monday’s premarket trading as semiconductor stocks benefited from improving market sentiment.

Nasdaq futures gained 0.90%, while S&P 500 futures advanced 0.57%.

Micron’s premarket gains came as investors returned to technology stocks amid broader market strength.

The chipmaker has been consolidating after a strong 12-month rally, making its shares sensitive to shifts in investor sentiment. Benzinga reports.

🤖 Anthropic Seeks Up to $3.5 Billion in Japan for Its Mega US IPO

Anthropic PBC (ANTH.PVT) aims to raise up to $3.5 billion from Japanese investors in its initial public offering in the US, bringing the landmark share sale by the artificial intelligence startup to a market starved of first-time offerings.

Mizuho Securities Co. will manage the Japanese portion of the share sale, while Goldman Sachs Group Inc., Mitsubishi UFJ Morgan Stanley Securities Co., and Morgan Stanley MUFG Securities Co. are among the companies that will handle investor orders, according to a regulatory filing on Monday. Mizuho Financial Group Inc. and Mitsubishi UFJ Financial Group Inc. are among the underwriters of the deal.

That makes the country, where first-time offerings have dried up to a 14-year low, one of the few markets whose investors will have direct access to the mega IPO. Apart from Japan, investors in Australia, Canada, and parts of Europe will also be able to buy into the initial share sale of the Claude chatbot maker. Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM ET). Stock Analysis reports.

1) INO: Inovio Pharmaceuticals, Inc.
Total gain: +250.27%

2) CLRO: ClearOne, Inc.
Total gain: +68.04%

3) PERI: Perion Network Ltd.
Total gain: +30.80%

4) ELAB: PMGC Holdings Inc.
Total gain: +24.23%

5) VMAR: Vision Marine Technologies Inc.
Total gain: +18.85%

The closing price of the top three market percent gainers trading near or above $2 on Oct 30.

(All pricing and percent gains are based on regular market trading hours from 9:30 AM to 4:00 PM ET). Stock Analysis reports.

1) CHOW: ChowChow Cloud International Holdings Limited
Total gain: +106.57%

The company announced the closing of its previously announced private placement. As previously disclosed, on June 16, 2026, the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with an investor for the sale of 862,069 ordinary shares at $0.58 per share, for an aggregate purchase price of US$500,000. GlobeNewswire reports.

2) GDYN: Grid Dynamics Holdings, Inc.
Total gain: +40.78%

The stock appeared to be moving on no notable news.

3) FMC: FMC Corporation
Total gain: +30.53%

The company announced disappointing third-quarter 2026 results, reporting revenue of $106 million, down from $542 million a year earlier, and a net loss of $2.07 billion. The decline was largely driven by a $639 million revenue impact from changes to its pricing and rebate strategy, alongside weaker-than-expected demand. PRNewswire reports.

(Estimate and Actual numbers represent Earnings Per Share in US Dollars)

RYAAY

Ryanair Holdings

Q2 2027

Before Market Open

Estimate: 3.490

Actual: 3.540

SOMMY

Sumitomo Chemical

Q2 2026

Before Market Open

Estimate: N/A

Actual: 0.796

KOS

Kosmos Energy

Q3 2026

Before Market Open

Estimate: 0.140

Actual: 0.060

Time (ET) / Report / Period

• 9:45 AM / US Manufacturing PMI / Oct.
• 10:00 AM / ISM Report On Business Manufacturing PMI / Oct.
• 10:00 AM / Construction Spending / Sep

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