US stock futures rose on Tuesday following a broad rally to kick off the new month on Wall Street.
S&P 500 futures (ES=F) moved up 0.2%, while those on the tech-heavy Nasdaq 100 (NQ=F) climbed roughly 0.5%. Meanwhile, Dow Jones Industrial Average futures (YM=F) were little changed, after the blue-chip benchmark led gains on Monday with a 500-point advance.
AI-related infrastructure names including Sandisk (SNDK) finished the day in positive territory. Nvidia (NVDA), however, slid by nearly 3% amid news that OpenAI is dragging out the close of a $100 billion deal due to dissatisfaction with Nvidia chips and is seeking alternative hardware.
Meanwhile, volatility continued to grip cryptocurrencies and commodities bitcoin (BTC-USD) steadied after falling to its lowest level since April, while precious metals also retreated. Gold (GC=F) and silver (SI=F) futures ended Monday lower after suffering steep losses late last week.
This week ahead brings a heavy slate of corporate earnings, with more than 100 S&P 500 companies set to report. Advanced Micro Devices (AMD) releases results Tuesday, while “Magnificent Seven” heavyweights Amazon (AMZN) and Alphabet (GOOG) report later in the week. In after-hours moves, Palantir (PLTR) shares surged roughly 6% after the data analytics firm delivered stronger-than-expected fourth-quarter results and issued optimistic guidance.
Investors remain focused on tech earnings in particular, seeking evidence that artificial intelligence investments are translating into stronger margins and earnings growth, following a lukewarm market response to Microsoft’s (MSFT) results last week.
Data releases this week, including Friday’s highly anticipated monthly jobs report, are set to be postponed after the US government entered another partial shutdown.
LIVE 4 updates
