(RTTNews) - After the decline observed in last Friday's trading, equities could shift upward at the start of Monday's session. Index futures suggest a positive opening, as S&P 500 futures have risen 0.8 percent.

Shoppers seeking value may fuel an early rebound on Wall Street after Friday's sharp drop that sent the tech-focused Nasdaq to its weakest close in four weeks.

Tech shares look set to support the recovery following their steep fall the prior day, shown by the 1.5 percent advance in Nasdaq 100 futures.

Nvidia (NVDA) shares are climbing 2.6 percent in pre-market action after the AI leader revealed a multiyear technology alliance with SK hynix aimed at developing next-generation memory solutions for worldwide AI infrastructure and speeding up chip design and production.

Enthusiasm may stay measured, however, because worries over Middle East events continue to weigh on investor sentiment.

Iran and Israel reportedly traded missile strikes on Sunday, pushing crude prices higher on fears of renewed conflict escalation.

Yet oil prices retreated from their peaks after President Donald Trump stated that Israel and Iran are pursuing an immediate ceasefire.

"Final negotiations on 'Peace' are proceeding, subject to ignorance or stupidity getting in its way," Trump said in a post on Truth Social. "The Blockade will remain in place, and in full force and effect, until a 'Final Deal' is reached. Things should move quickly."

After facing notable selling pressure early, stocks extended their downward move through Friday's session. The main benchmarks all finished sharply lower, led by a steep decline in the tech-heavy Nasdaq.

The averages closed near their session lows. The Nasdaq dropped 1,121.53 points or 4.2 percent to 25,709.43, the S&P 500 fell 200.57 points or 2.6 percent to 7,383.74 and the Dow lost 695.15 points or 1.4 percent to 50,886.78.

Following the steep losses, the major averages finished lower for the week overall. The Nasdaq fell 4.7 percent, the S&P 500 declined 2.9 percent and the Dow eased 0.3 percent.

In overseas markets, Asia-Pacific equities fell sharply on Monday. China's Shanghai Composite Index dropped 1.7 percent, Japan's Nikkei 225 Index slid 3.9 percent and South Korea's Kospi tumbled 8.3 percent.

Most European stocks also traded lower. The German DAX Index slipped 0.4 percent and the French CAC 40 Index eased 0.2 percent, though the U.K.'s FTSE 100 Index edged up 0.1 percent.

In commodities, crude oil futures rose $1.09 to $91.63 a barrel after falling $2.50 to $90.54 a barrel last Friday. Gold futures slipped $12.60 to $4,352.70 an ounce after dropping $139.70 to $4,365.30 an ounce in the prior session.

On the currency markets, the U.S. dollar traded at 159.92 yen compared with 160.29 yen at Friday's New York close. Against the euro, the dollar stood at $1.1541 versus $1.1519 last Friday.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.