Nasdaq 100 futures on the rebound this morning but uncertainty remains

The opening to the US stock markets on Friday had delivered some immediate opening upside for the Nasdaq 100. The index reopened at 22,110, from a close on Thursday, at 22,068. However, almost immediately it started to turn lower and followed the Dow Jones into the red. The real kicker for the tech sector and the Nasdaq 100 was that services sector PMI. You see tech is all about services and that slide in the index into contractionary territory very soon began to bit on tech stocks. So by the close of business all the big names were in the red. Those across the board losses were led by NVIDIA and in relative terms Apple was the best of the bunch, but still closed ever so slightly in the red. So, the Nasdaq 100 closed 2.06% lower on Friday- its worst day since the beginning of the month. It also outstripped the 1.69% loss on the Dow and 1.71% loss in the S+P.  The Nasdaq 100 closed pretty much on session lows (21,597), when ending the day 453 points lower, at 21,614. The rebound in the European stock futures, obviously led by the DAX has helped all the US stock futures lift this morning and right now the Nasdaq 100 is priced to reopen higher. However, it remains to be seen, if that European rebound will have a lasting impact on US stocks later today. That is because they have entirely different reasons for the heavy falls on Friday. The Nasdaq 100 is right now priced to reopen around 21,705