QQQ is trading at $692.04, up 1.6% in pre-market, as the tech-heavy index benefits from a sustained rally in AI semiconductor stocks and cooling labor market data.

  • The AI chip sector remains a primary driver, bolstered by Samsung hitting a $1T market cap milestone and AMD’s positive earnings performance in after-hours trading.
  • Yesterday's JOLTS report indicated a cooling labor market, increasing investor expectations for interest rate cuts and boosting demand for growth-oriented tech stocks.
  • The pre-market move tracks a 1.32% rise in NASDAQ-100 futures, building on momentum from the NASDAQ Composite's 1.53% gain in the previous session.