TLDR
- S&P 500 futures rose 0.42% in premarket trading Tuesday, with tech stocks leading gains
- Nebius jumped 6% after Nvidia disclosed a 9.3% stake, including a $2B investment
- Taiwan Semiconductor surged 4% on reports of planned wafer price hikes of up to 10% in 2027
- First Citizens Bancshares and Equifax dropped 38.4% and 11.2% respectively in early trading
- Bitcoin rose 1.67% to $66,174 as gold and oil futures also edged higher
U.S. stock futures pointed higher Tuesday morning as investors looked to recover ground while keeping an eye on Middle East tensions and questions around AI spending.
S&P 500 futures were up 0.42%. Dow Jones futures gained 0.31%. The Cboe Volatility Index futures rose 2.09%.
Sandisk was the standout premarket mover, climbing 7.3%. Coherent Corp was up 7.0%. MaxLinear, Western Digital, and Powell Industries all posted gains of at least 6%.
On the losing side, First Citizens Bancshares Class A fell 38.4% in early trading. Equifax dropped 11.2%.
AI Stocks in Focus
Nebius gained 6% after Nvidia disclosed it now beneficially owns a 9.3% stake in the AI cloud infrastructure company. That includes a previously announced $2 billion investment and 21.1 million shares under a purchase warrant from March.
Nvidia cannot exercise the warrant or sell those shares until September 11, 2026. Still, the disclosure boosted investor confidence in Nebius.
Taiwan Semiconductor rose 4% after a Nikkei Asia report said the chipmaker plans to raise wafer prices by up to 10% in 2027. Advanced chip orders above customer forecasts could carry an extra 10% to 15% premium. Mature-node chips are also set to rise up to 10%.
Earnings and Commodities
Crown Holdings beat second-quarter estimates and raised its full-year outlook. Adjusted earnings per share came in at $2.49, with revenue of $3.67 billion. Beverage can shipments grew 5% globally, with double-digit growth in Asia.
General Motors climbed 0.7% after reporting better-than-expected second-quarter earnings and raising its full-year guidance.
Cracker Barrel rose 2.7% after the company said it expects to meet or exceed full-year revenue guidance following the sale of its Maple Street Biscuit business.
D.R. Horton was flat despite its third-quarter earnings and revenue beating analyst expectations.
Magnolia Oil and Gas fell 6% after pricing a public offering of 46.3 million Class A shares at $23.75, raising around $1.1 billion to fund the purchase of WildFire Intermediate Holdings.
Zions Bancorporation dropped 4% after missing second-quarter net interest income and net interest margin expectations, even though adjusted earnings per share of $1.74 beat estimates.
In commodities, Brent crude oil futures rose 1.42%. Gold futures gained 1.16%. Bitcoin rose 1.67% to $66,174. The 10-year Treasury yield climbed to 4.606%.
Asian markets were higher overnight. Japan’s Nikkei 225 rose 3.26%. China’s Shanghai Composite gained 1.79%. European stocks also edged up, with the STOXX Europe 600 rising 0.20%.
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