U.S. stock futures pointed to a higher open on Tuesday, led by gains in technology shares, as oil prices eased and investors awaited Nvidia’s quarterly earnings report due Wednesday.
The Dow Jones Industrial Average was indicated up 0.5% at 53,690 points, while the tech-heavy Nasdaq 100 futures rose 0.9% to 29,297, according to broker IG. The advance followed cautious trading at the start of the week, with Brent crude oil slipping about 1% to around $91 per barrel, though geopolitical risks in the Middle East kept prices elevated.
The U.S. Federal Reserve’s recent policy stance and ongoing trade tensions involving Iran continued to weigh on investor sentiment. Treasury Secretary Scott Bessent’s remarks on Monday did not outline new measures to pressure Iran, leaving uncertainty over potential secondary sanctions against major trade partners such as China. Analysts at Commerzbank noted that the key question remains how aggressively Washington will enforce such sanctions.
Nvidia’s upcoming earnings report is expected to provide insights into the sustainability of the artificial intelligence boom, with the chipmaker’s performance serving as a key barometer for the sector. The company’s shares rose 1.3% in premarket trading, snapping a seven-day losing streak. Intel climbed 3.6%, while Micron and Applied Materials gained up to 2.7%.
In corporate news, Dick’s Sporting Goods tumbled nearly 17% in premarket trading after lowering its full-year revenue and adjusted earnings guidance, citing weaker performance at its acquired Foot Locker unit. Nike, a major competitor, fell 3.1%, while European peers Adidas and Puma also declined. The retailer reported weaker-than-expected second-quarter results and flagged reduced product launches and increased discounting.
Swiss equities showed modest gains, with the SMI up 0.21% at 14,477.43 points by mid-morning. ABB and Logitech led blue-chip advancers, gaining 1.7% and 1.9% respectively, while Amrize dropped 2.2% following the unexpected departure of its CFO. Nestlé, Barry Callebaut, and Lindt also slipped slightly, reflecting broader sector weakness.
Semiconductor-related stocks in Switzerland such as VAT, Comet, and Inficon rose more than 2%, with AMS Osram surging 5.5%. Swissquote advanced 1.2% as cryptocurrency prices extended recent gains, with Bitcoin trading above $80,000 for the first time since mid-May. TX Group and SMG led mid-cap gains, rising 4.9% and 9.5% respectively after reporting strong half-year results. The TX Group also increased its stake in SMG to 31.4%.
Orior slumped 9.5% after cutting its outlook, while Molecular Partners fell 4.0%. Arbonia pared early losses to trade 0.3% higher. DKSH dropped 3.8% following a downgrade by Berenberg, while SIG gained 2.1% after UBS reaffirmed its buy rating. Leonteq remained volatile after announcing an extraordinary general meeting to discuss a potential share buyback program.
In macroeconomic data, German construction orders rose 6% month-on-month in June on a seasonally adjusted basis, supported by large contracts, according to official figures.
