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Stock index futures rise as chip rebound and bond yields fall
September S&P 500 and Nasdaq 100 E-mini futures were up 0.47% and 0.94% in pre-market, helped by a 3 basis point drop in the 10-year Treasury yield to 4.67%.
Stock index futures moved higher Tuesday as chipmakers rebounded and Treasury yields fell, with market participants also looking ahead to U.S. economic data and Nvidia’s second-quarter earnings report later this week, according to Yahoo Finance. In early trading, September S&P 500 E-mini futures rose 0.47%, while September Nasdaq 100 E-mini futures gained 0.94%. The move followed a prior session in which major indexes closed mostly lower, after chip and AI infrastructure names sank, including Seagate Technology (down more than 6%) and Micron Technology (down more than 5%), the outlet said.
Lower bond yields were one support, with the 10-year T-note yield falling three basis points to 4.67%. Oil also weighed on markets, as WTI crude dropped more than 3% on Tuesday amid views that new U.S. measures aimed at isolating Iran pose less supply risk than a military escalation, Yahoo Finance added.
Other notable moves included Regenxbio (down more than 24%) after the FDA placed a clinical hold on its investigational gene therapy RGX-121 for Hunter syndrome. On the upside, Expedia Group rose more than 5% after Evercore ISI raised its price target to $430 from $375, while Yahoo Finance also noted President Donald Trump’s plan to impose 50% tariffs on imported Canadian automobiles and auto parts starting in January.
Latest closeWTI crude $82.40 ▲1.4%|S&P 500 7,785.76 ▼0.2%|Nasdaq Comp. 26,729.16 ▼0.3%