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US stock futures rise as chip stocks rebound after last week's sell-off
S&P 500 and Nasdaq-100 futures gained 0.6% and 1.4% respectively, while investors also weighed renewed West Asia tensions and upcoming earnings from Alphabet, IBM, and Tesla.
US stock futures climbed on Tuesday, July 21, after a rebound in chip stocks following last week’s steep sell-off, helping lift sentiment across major indexes. Futures tied to the Dow Jones Industrial Average rose 166 points, or 0.3%, while S&P 500 futures gained 0.6% and Nasdaq-100 futures added 1.4%, after all three indices finished lower in the prior session, LiveMint Markets reported.
The technology-led move followed a sector turnaround, with chip stocks previously serving as key drivers of Wall Street’s rally this year before suffering their worst weekly decline in more than a year. Investors appeared to be positioning for lower valuations after the correction, though the article noted ongoing volatility tied to concerns about rich valuations and whether hyperscale technology firms can sustain heavy AI spending.
Alongside market positioning, investors continued to monitor escalating conflict in West Asia, which has also moved oil and global energy security concerns. The US carried out its 10th consecutive day of strikes after President Donald Trump said Iran “will pay” for attacks that killed American soldiers, while Iran intensified missile and drone attacks on US military sites in neighboring countries, including reports of targeting US technology infrastructure in the region.
The news flow also includes an active earnings calendar for tech and industrial names. LiveMint Markets said Alphabet, IBM, and Tesla are scheduled to report quarterly results later this week, following Monday’s reports from 3M and General Motors, whose shares rose about 7% and 2% respectively after posting better-than-expected results.
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