U.S. equity futures pointed to a higher open on Tuesday as chipmakers rebounded and oil prices eased, while geopolitical risks kept markets on edge. The Dow Jones Industrial Average was indicated up 0.5% at 53,690 points, the S&P 500 up 0.5% and the Nasdaq 100 up 0.9%, according to broker IG. By midday, the blue-chip index rose 0.4% to 53,625, the S&P 500 gained 0.4% to 7,680 and the tech-heavy Nasdaq 100 advanced 0.6% to 29,256.
The advance followed a cautious start to the week, with oil prices pulling back after last week’s surge. Brent crude fell about 1% to around $91 per barrel, though remained elevated amid ongoing Middle East tensions. Analysts noted that U.S. efforts to pressure Iran through secondary sanctions and potential exclusion from the dollar system could create collateral damage for global trade, keeping risk sentiment fragile.
Semiconductor shares led gains after Monday’s broad retreat, with Intel up 3.6%, Micron up 2.7% and Applied Materials adding 2.7% in pre-market trading. Nvidia, whose quarterly results are due Wednesday, rose 1.3% in premarket action, snapping a seven-day losing streak. The chip giant’s report is widely seen as a bellwether for the artificial-intelligence boom, with traders parsing the data for signs of waning momentum. "Investors will scrutinize Nvidia’s figures to determine whether the AI boom is losing steam," said Frederic Neumann, HSBC’s chief Asia economist.
Retail stocks lagged after Dick’s Sporting Goods tumbled 17% in extended trading following a weak outlook tied to its Foot Locker acquisition. Nike fell 3.1%, while Adidas and Puma declined 1.2% and 1% in Frankfurt. Dick’s cut its full-year revenue and adjusted profit guidance, citing weaker second-quarter performance, reduced product launches and increased discounting.
In Switzerland, the Swiss Market Index (SMI) rose 0.21% to 14,477.43 by 11:20 a.m. local time, with 14 gainers and six decliners. Logitech led blue-chip advancers at 1.9%, followed by ABB at 1.7%. Amrize led decliners at 2.2% after its CFO unexpectedly departed. Nestlé fell 0.5%, pressured by broader weakness in consumer staples, with Barry Callebaut and Lindt both down 0.7%.
Mid-cap and broader gauges also advanced, with the SMIM up 0.41% to 3,174.46 and the SPI gaining 0.22% to 20,356.56. Swissquote rose 1.2%, benefiting from continued strength in cryptocurrency markets, while Bitcoin extended its rally above $80,000 to the highest since mid-May. Gold and silver edged lower after recent gains.
Other movers included TX Group, which surged 4.9% on strong first-half results and a 31.4% stake increase in SMG, its online marketplace unit. SMG itself jumped 9.5%. The Geneva Cantonal Bank gained 3.7% after posting a sharp first-half profit increase, while VP Bank rose 1.4% on a robust earnings report. In contrast, Orior slumped 9.5% after lowering guidance and Molecular Partners fell 4.0%. Arbonia pared early losses to trade up 0.3%.
Analyst actions added to the volatility: DKSH dropped 3.8% after Berenberg downgraded the stock, while SIG gained 2.1% on an upgraded buy rating from UBS. Leonteq fluctuated after calling an extraordinary general meeting to discuss a share buyback program, ending 2.3% lower despite intraday gains.
