U.S. stock index futures pointed to a higher open on Tuesday, driven by gains in technology shares, as investors positioned ahead of Nvidia’s quarterly earnings report due Wednesday. The Dow Jones Industrial Average was indicated up 0.5% at 53,690, while the tech-heavy Nasdaq 100 was set to rise 0.9% to 29,297.
Oil prices extended declines after a sharp rise last week, with Brent crude trading around $91 per barrel, down roughly 1% from the previous session. The pullback reflected efforts by the U.S. to pressure Iran back to negotiations, including potential secondary sanctions targeting Tehran’s key trading partners such as China. Analysts noted that the effectiveness of these measures would depend on enforcement and global compliance.
Semiconductor stocks rebounded, with Intel gaining 3.6% in pre-market trading, Micron up 2.7%, and Applied Materials rising 2.5%. Nvidia’s shares added 1.3%, ending a seven-day losing streak as investors awaited the chipmaker’s earnings report, which is seen as a bellwether for the artificial intelligence boom. HSBC’s chief Asia economist Frederic Neumann said the numbers would be closely scrutinized for signs of whether AI demand is slowing.
In corporate earnings, Dick’s Sporting Goods slumped nearly 17% in pre-market trading after cutting its full-year outlook on weak performance at its acquired Foot Locker unit. Nike shares fell 3.1%, while European peers Adidas and Puma declined 1.2% and 1%, respectively. Dick’s cited intensified discounting, fewer product launches, and a weak second-quarter performance as key pressures.
The Swiss Market Index (SMI) rose 0.21% to 14,477.43, with ABB gaining 1.7% and Logitech up 1.9% after Monday’s losses. Amrize led decliners among blue chips, dropping 2.2% following the unexpected departure of its CFO. Nestlé slipped 0.5%, alongside weakness in Barry Callebaut and Lindt, both down 0.7%.
Smaller Swiss equities showed mixed performance. TX Group surged 4.9% and SMG jumped 9.5% after reporting strong half-year results, with TX Group also increasing its stake in SMG to 31.4%. The Geneva Cantonal Bank rose 3.7% following a strong first-half profit, while VP Bank gained 1.4% on a similar earnings beat. In contrast, Orior fell 9.5% after lowering guidance, and Molecular Partners dropped 4%.
Analyst actions added to market moves: DKSH fell 3.8% after Berenberg downgraded the stock, while SIG gained 2.1% following a reiterated buy rating from UBS. Leonteq traded volatile ahead of an extraordinary general meeting to discuss a potential share buyback program.
Bitcoin extended its recent rally, surpassing $80,000 for the first time since mid-May, while gold and silver edged lower after recent gains. Geopolitical tensions in the Middle East and escalating U.S. threats of secondary sanctions against Iran continued to weigh on investor sentiment, despite the modest retreat in oil prices.
