Dow futures rose 0.48% to 52,750 as investors balanced a rebound from post-election lows against Nvidia's 4% decline and uncertainty surrounding incomplete October inflation metrics.
Nvidia shares dropped over 4% after CEO Jensen Huang acknowledged an alleged affair with a suspected Chinese spy, sparking fears that lawmakers might push for stricter export controls on the company's hardware. This company-specific headwind capped the broader tech rebound, though the wider semiconductor recovery may cushion further losses.
Dow futures advance 0.48% to around 52,750 in European hours on Tuesday, extending Monday's 2.15% rally. Investors are positioning ahead of the October CPI report, forecast at 0.3% month-over-month versus 0.6% in September, which supports the recovery after last week's post-Midterm selloff.
S&P 500 futures gain 0.17% to around 7,590 after the index jumped 2.35% on Monday, and Rabobank notes the S&P 500 has recovered roughly 3% back to pre-November 4 levels following its 4.4% single-day collapse after the Midterm elections.
Nasdaq 100 futures slip 0.15% to around 27,970 even though the Nasdaq Composite climbed 2.74% on Monday and the Philadelphia Semiconductor Index rose more than 11% in two sessions. The mixed futures reading reflects caution ahead of CPI and CoreWeave earnings, offset by Nvidia's 4% CEO-related drop.
With standard annual inflation metrics unavailable for October, market participants shifted additional focus to CoreWeave's upcoming earnings release for critical signals on AI sector momentum. The outcome is a two-sided event risk for the stock until results land.
US stock futures traded mixed on Tuesday as investors prepared for the October Consumer Price Index report, which is forecast to show a 0.3% month-over-month increase. While the Dow and S&P 500 futures posted gains, the Nasdaq 100 slipped as Nvidia shares fell over 4% following a scandal involving CEO Jensen Huang. Market participants are also closely watching CoreWeave's upcoming earnings for signals on AI sector momentum due to the unavailability of annual inflation data.
Shares dropped over 4% after CEO Jensen Huang acknowledged an alleged affair with a suspected Chinese spy, prompting fears that lawmakers could push for stricter export controls on Nvidia's hardware.
Futures rose 0.48% to around 52,750 as the market rebounded from last week's Midterm-election selloff and investors awaited an October CPI report expected to show inflation slowing to 0.3% month-over-month.
Rabobank notes the index, after collapsing 4.4% in one day last week, has moved about 3% higher and is back to pre-November 4 levels, with futures adding another 0.17% on Tuesday.
Yes, the Nasdaq Composite climbed 2.74% on Monday and is up 5% over the past two sessions despite negative Nvidia headlines, though Nasdaq 100 futures were marginally lower at 27,970 on Tuesday.
Because October's annual inflation rates will not be published due to the government shutdown, investors are looking to CoreWeave's upcoming earnings for critical signals on the momentum of the artificial intelligence sector.