U.S. equity futures pointed to gains at Tuesday’s open, with the Dow Jones Industrial Average indicated up 0.5% at 53,690 points and the Nasdaq 100 up 0.9% at 29,297, according to broker IG. The modest advance follows cautious trading to start the week and comes as Brent crude oil prices extended declines.
Brent crude fell 2.1% to $83.40 per barrel after a sharp rise last week, as the U.S. seeks to bring Iran back to negotiations and secure access through the Strait of Hormuz. U.S. Treasury Secretary Scott Bessent’s remarks late Monday did not outline new measures to pressure Iran, leaving uncertainty over the potential enforcement of secondary sanctions targeting China and other major Iranian trade partners. Commerzbank noted that the decisive factor remains how aggressively Washington pursues such sanctions.
Investor attention is increasingly focused on Nvidia’s quarterly earnings report, due after Tuesday’s close. The chipmaker’s results are seen as a bellwether for the artificial intelligence investment cycle. HSBC’s Asia chief economist Frederic Neumann said traders will scrutinize guidance for signs of whether AI momentum is slowing. Nvidia’s shares rose 1.3% in pre-market trade, snapping a seven-day losing streak.
Semiconductor peers also rebounded. Intel climbed 3.6%, Micron gained up to 2.7%, and Applied Materials advanced 2.7% ahead of the opening bell. The gains followed declines on Monday.
In individual corporate news, Dick’s Sporting Goods slumped nearly 17% after reporting quarterly results and lowering guidance, citing weakness at the recently acquired Foot Locker chain. Nike, a major supplier to Foot Locker, fell 3.1% in sympathy.
