Nasdaq set to open higher as chip stocks recover, rate-hike worries persist

The Nasdaq is set to open higher on Friday as chip stocks recover from heavy losses, though concerns persist over potential AI regulation and interest-rate hikes following a strong jobs report. The previous session saw the Nasdaq Composite log its steepest one-day decline in 19 months, entering correction territory, after Democrats' midterm victory raised fears of slower AI data-center buildout. October nonfarm payrolls exceeded expectations, with traders now pricing a 78 percent chance of a December Fed rate hike. Nvidia gained 4.2 percent in premarket trading after its worst day since January 2025, while other chip stocks rose between five and nine percent. Oil prices remained set for sharp weekly declines, and the S&P 500 was on pace for its worst weekly showing since March 2025.