Nasdaq 100 futures climb 1.3% on strong chip sector gains and better-than-expected corporate earnings reports.
U.S. stock futures rose Tuesday, led by a rebound in semiconductor stocks and stronger-than-expected earnings. Nasdaq 100 futures gained 1.3%, while S&P 500 and Dow Jones futures added 0.6% and 0.3%, respectively, recovering from Monday’s losses.
The VanEck Semiconductor ETF climbed over 3%, with Marvell Technology and Micron Technology each up 6%, and Intel rising more than 5%. Of 54 S&P 500 companies reporting results, 87% exceeded profit expectations, including 3M and General Motors.
Oil prices edged higher, with West Texas Intermediate crude at $83.90 a barrel, as Middle East tensions persisted. Traders await earnings from Alphabet, IBM, and Tesla later this week.