Nasdaq 100 futures rally over 1% as Black Monday fears fade after Friday selloff

Nasdaq 100 futures gained nearly 1% in early Monday trading, reversing social media-driven Black Monday crash warnings that followed Friday's chip-led selloff. The Nasdaq Composite and S&P 500 both logged their worst week since June on Friday, with the S&P 500 down 2.1% and the Nasdaq Composite down 1.1%. Despite social media calls for a repeat of the 1987 crash, futures turned higher within hours, and the S&P 500 was set to add $350 billion in market capitalization at the open. About 84% of S&P 500 members trade at least 10% below their highs, and just 10 stocks drove roughly 70% of the index's gains since March, highlighting narrow market breadth.