Nasdaq futures rose on Tuesday as Nvidia and other AI-related stocks stabilized after a significant selloff. Investors also looked forward to comments from U.S. Federal Reserve officials for clues on future monetary policy.
Nvidia shares climbed 2.1% premarket, with other chip stocks like Micron Technology, Broadcom, and Qualcomm also up over 1%. AI server maker Super Micro Computer gained 2%.
The Nasdaq had experienced its steepest one-day drop since late April, while sectors like utilities, consumer staples, and energy, which had underperformed tech stocks, saw increased investor interest.
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Investors await the PCE price index report on Friday and consumer confidence data today. Fed Governors Michelle Bowman and Lisa Cook are scheduled to speak, with market participants expecting potential interest rate cuts later this year.
Among other notable premarket movers, Spirit AeroSystems fell 5% following reports of a possible acquisition by Boeing. Trump Media & Technology Group surged 14.2% after announcing expected proceeds from warrant exercises.
As of 5:33 a.m., ET, Dow e-minis were down 14 points (0.04%), S&P 500 e-minis were up 9.75 points (0.18%), and Nasdaq 100 e-minis were up 83 points (0.42%).
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