S&P 500 Futures Rebound as Chip Stocks Lead Recovery After Jobs Selloff

After snapping a nine-week win streak with a 1.1% drop to 7,516 on June 5, the S&P 500 is positioned for a risk-on rebound on June 8. The decline was triggered by hotter-than-expected May payrolls of 172,000 versus 80,000 consensus, lifting the 10-year yield to 4.534% and intensifying tech selling after Broadcom’s revenue miss. Monday futures point higher with semiconductors leading, though investors remain cautious following the sharp rotation into defensives and the end of the prior 16% two-month rally.