U.S. stock futures advanced Tuesday, recovering from a modest equity selloff as markets looked to Nvidia’s upcoming earnings and critical inflation figures expected later this week. Trade in the futures market signaled optimism across major indices following Monday’s tech-driven losses.
At 4:22 p.m. (Bangkok Time), contracts tied to the Dow Jones Industrial Average increased by 0.30%, while S&P 500 futures rose by 0.38%. Nasdaq-100 futures led gains, up by 0.75%, after technology shares weighed on the market in the previous session.
On Monday’s regular session, the S&P 500 closed down 0.28% and the Nasdaq Composite fell 0.76%, reflecting weakness in semiconductor and large-cap tech stocks. The Dow Jones ended the session 0.26% higher, posting a gain of 140.15 points.
Broader sentiment in global equity markets remained cautious. Major Asian indices saw declines after Treasury Secretary Scott Bessent announced additional sanctions on Iran and Nvidia marked its seventh straight daily loss.
Bitcoin surged past the $80,000 level for the first time in three months, benefiting from fresh concerns around dollar depreciation following the U.S. Treasury’s intervention in the bond markets. Gold prices have recently rallied but paused on Tuesday, taking a break from their upward trend.
Market participants are scaling back on risk in anticipation of Nvidia’s quarterly earnings report set for release after Wednesday’s closing bell.
Investors are also closely monitoring several upcoming data releases, including figures on new home sales, ADP’s weekly employment update, and manufacturing activity scheduled for Tuesday. These reports precede Wednesday’s PCE inflation reading, which is expected to clarify the outlook on consumer prices.
These economic snapshots will inform discussions at the Federal Reserve’s Jackson Hole Symposium later in the week, where Fed Chair Warsh is scheduled to speak.
Other corporate earnings to watch include pre-market results from Bank of Montreal and Dick’s Sporting Goods on Tuesday, as well as after-hours reports from Intuit, Box, and Zoom.
