Morning Brief
Tech rebound fades, data risk looms, AI rotation questioned
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Show notes
US futures are lower after Friday’s rebound, with tech struggling to regain its footing following last week’s sharp software sell-off. Investors are bracing for a rescheduled jobs report on Wednesday and CPI on Friday, both key tests for rate expectations and market direction.
Technically, the S&P 500 bounced off its 100-day moving average but remains stuck below the 7,000 level. A sustained breakout likely depends on software stabilizing after extreme oversold conditions.
Strategists are also pushing back on blind rotation away from AI. The sell-off has been indiscriminate, but balance sheet strength and the speed of monetization matter more than chasing anti-AI trades. Volatility is creating opportunity, but selectivity is critical.
Takeaways:• Futures point to a cautious open• Jobs and CPI data dominate the week• Tech leadership remains unresolved• AI rotation lacks a clear fundamental anchor
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