Nasdaq futures rise after Wall Street rebound as South Korean stocks surge

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CNBC reports Nasdaq futures climbed in after-hours trading following a strong rally during Thursday's regular session. The Kospi, South Korea's main stock index, soared 13% and triggered trading curbs designed to slow extreme moves. Microsoft led the gains during the regular session.

The Kospi's surge is one of the largest single-day moves for a major developed-market index this year, large enough to activate circuit breakers that pause trading when volatility spikes. Such extreme moves in Asian markets often set the tone for U.S. trading hours.

U.S. stocks have been volatile this week following the Federal Reserve's decision to hold rates steady. The Nasdaq snapped a six-day losing streak on Thursday as technology shares recovered from the post-Fed selloff. Microsoft rallied after reporting quarterly results earlier in the week, helping lift the broader technology sector.

Friday's regular session will test whether the rebound has momentum or was a short-covering rally. The Kospi's move will draw attention to what triggered such a large swing in South Korean equities. More megacap technology earnings are due in coming days.

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