US Stock Futures Steady After AI Selloff as Labor Data Looms

US stock futures stabilized Thursday evening after a massive AI-sector selloff erased hundreds of billions in market value, with traders now focused on upcoming labor market data for clues on Federal Reserve policy. The S&P 500 futures rose 0.26%, while Nasdaq 100 futures gained 0.83%, recovering from Wall Street's worst trading day in nearly 19 months. The Philadelphia Semiconductor Index plunged 12.25%, with Nvidia falling 10% and AMD dropping 17%, amid concerns over Democratic election victories potentially bringing stricter AI regulation. The NASDAQ Composite fell 5.5% Thursday, with the S&P 500 down 4.4%. Investors await Friday's nonfarm payrolls report, as strong employment data could give the Fed room for further rate hikes following September's 25-basis-point increase.