Stock futures climbed higher early Tuesday, led by a rally in the tech sector, with investors watching for key inflation data expected to indicate how tariffs are affecting the U.S. economy. Futures on the S&P 500 rose 0.3% and Nasdaq futures increased 0.5%, while the Dow Jones Industrial Average dipped slightly by 0.1%[1].
The Nasdaq Composite reached a record close on Monday as investors ignored concerns about new tariff announcements from President Donald Trump. The spotlight is on the next reading of consumer price data, due at 8:30 a.m. ET. If inflation for June exceeds expectations, it could diminish hopes for the Federal Reserve to cut interest rates in the short term[1].
Notably, Nvidia shares surged 4.5% following the company’s announcement that it will resume shipments of its H20 AI chips to China. This comes after securing assurances from the White House that existing export restrictions would be lifted. The move follows Nvidia’s recent milestone as the first company to ever reach $4 trillion in market capitalization[1].
Elsewhere, gold futures hovered near a three-week high at $3,360 per ounce, up 0.1%, while the U.S. crude oil benchmark, West Texas Intermediate, traded at $66.90 per barrel, down 0.1% after a previous 2% drop. The yield on the 10-year Treasury note stood at 4.43%, unchanged from the prior day, and the U.S. dollar index remained steady at 98.10[1].
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