Nasdaq 100 futures gained almost 1% in early Monday trading. The move defies social media calls for a Black Monday crash after Friday’s chip-led selloff.
However, Friday was steeper. The Nasdaq Composite fell 2.1% and the S&P 500 lost 1.1%, and both logged their worst week since June.
Did the Black Monday Warnings Miss the Mark?
Calls for a Black Monday crash spread across social media on Monday, according to market research firm Kobeissi Letter. Black Monday fears were already circulating on Sunday, BeInCrypto reported.
The original Black Monday was October 19, 1987, when the Dow Jones Industrial Average dropped 22.6% in one session.
The December contract tracks the Nasdaq 100, an index of the exchange’s 100 largest non-financial companies. Data showed it near 29,643, up 0.86%. It opened at 29,227, about 0.6% below its previous close, before turning higher.
Meanwhile, Kobeissi said the S&P 500 was set to add $350 billion in market capitalization at the open.
Can 10 Stocks Carry the Rally Past a 2% Gap?
Friday’s close left the S&P 500 about 2% below its October 6 record close of 7,818.93. Kobeissi, however, argues history points to 8,000 soon, roughly 4.4% above Friday’s close of 7,659.44.
In contrast, analysis shows few stocks doing the lifting. About 84% of S&P 500 members trade at least 10% below their highs. Just 10 stocks drove roughly 70% of the index’s gain since March 30.
Micron, one of those 10 names, fell 5.6% Friday on doubts over how long the AI buildout lasts, it was reported. Intel lost 5.8%.
Still, a rebound that leans on so few names stays exposed to the chip weakness that weighed on Friday’s session. Whether the futures gain holds into the cash session will show if buying is broadening beyond technology. The S&P 500 remains up 11.9% for 2026 despite Friday’s drop.
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