US equity futures are seeing a modest rebound after posting their biggest drop this month, as Brent crude dropped back under $100 a barrel, and bond yields and rate hike odds - which track the price of oil one to one - halted their ascent. As of 6:00am ET, S&P 500 futures rose 0.3%, with the index still on track for its first back-to-back weekly loss since the early stages of the Iran war. Tech stocks remained under pressure as South Korea’s memory and Japanese chip giants were pummeled. Treasury yields hovered just below their highest levels this year, while Brent fell more than 3% toward $97 a barrel.In premarket trading, Tesla leads gains among Mag 7 stocks after the electric vehicle maker plunged about 15% on Thursday (Tesla +1.3%, Microsoft +1.1%, Alphabet +0.7%, Meta +0.7%, Amazon +0.5%, Apple +0.2%, Nvidia -0.4%)Amkor Technology (AMKR) rallies 11% after the company announced a $1.5 billion multi-year binding agreement with Nvidia to develop advanced semiconductor packaging and test technologies for next-generation AI and accelerated computing platforms.Intel (INTC) gains 4% (well below the kneejerk surge 12% higher) after the chipmaker’s third-quarter forecast was much stronger than analysts’ expectations. The results highlighted both the durability of AI-related demand, as well as the success of Intel’s turnaround.MaxLinear (MXL) slides 11% after the semiconductor device company reported second-quarter results that were only modestly ahead of expectations. While its third-quarter revenue forecast was stronger than expected, its view for adjusted gross margin was largely in line at the midpoint of the range.Oracle (ORCL) is up 2.6% after the software company said it had been awarded a 10-year IDIQ contract by the US Department of Defense under its Enterprise Software Initiative. The contract is valued at $3.31 billion for the first five years and up to $6.99 billion if options are exercised.In other corporate news, SpaceX is said to have started to turn away satellite operators seeking dedicated rides to orbit aboard its staple Falcon 9 rocket beyond 2028, underscoring the massive bet Elon Musk is making on its unproven Starship. The pause on Paramount Skydance’s takeover of Warner Bros. Discovery has been extended two weeks to Aug. 17 by the federal judge in California