TLDR
- Stock futures fell Tuesday as oil prices pushed the 10-Year Treasury yield to its highest in over 19 years
- Coinbase, Robinhood, and Strategy dropped as hopes faded for the Clarity Act crypto regulation bill ahead of a Senate vote
- Chip stocks including Intel, Micron, and Sandisk edged higher after Monday’s selloff tied to AI slowdown calls
- Dave & Buster’s fell 14% after posting an unexpected Q2 loss, while Radiant Logistics jumped 13% on strong earnings
- Enova International dropped 20% after pulling its bank acquisition bid following regulatory uncertainty
Stock futures dipped Tuesday morning as a combination of rising oil prices, high bond yields, and renewed debate over AI development weighed on markets ahead of a key Federal Reserve rate decision.
The 10-Year Treasury yield climbed to its highest level in more than 19 years, driven by a rally in benchmark oil prices. Energy stocks bucked the broader trend, with Halliburton adding 1% and Occidental Petroleum rising 0.8%.
Crypto Stocks Fall on Clarity Act Uncertainty
Coinbase dropped 4.1%, Robinhood declined 2.2%, and Strategy fell 3.5% as optimism around the Clarity Act faded. The crypto regulation bill is scheduled for a Senate vote Tuesday afternoon, but passage is now looking less certain.
The Clarity Act has been closely watched by the crypto industry as a framework for digital asset regulation. Its failure to pass would leave regulatory uncertainty in place for exchanges and crypto-related stocks.
Chip Stocks Recover After Monday Selloff
Intel, Micron, Sandisk, Coherent, and Lumentum all edged higher in premarket trading. The moves came after the group took a hit Monday when several top executives publicly called for a slowdown in AI development.
Software stocks moved in the opposite direction. Crowdstrike, Palantir, and Workday all slipped as investors took profits following Monday’s rally in the sector.
Dave & Buster’s shares fell 14% after the company reported an unexpected second-quarter loss. Adjusted earnings per share came in at -$0.27, missing the $0.19 consensus estimate and reversing from a $0.40 profit in the same period last year.
Revenue dropped 2.4% year over year. Food and beverage costs rose 11%, entertainment costs rose 5%, and payroll costs climbed 1%, pushing total operating expenses up 4%.
Radiant Logistics was one of the session’s biggest gainers, rising 13% after posting strong fiscal fourth-quarter results. Revenue rose 18.6% year over year, and adjusted EBITDA climbed 31.6%.
The logistics company also amended its revolving credit facility, extending maturity to 2031. It entered fiscal 2027 with no net debt.
Enova International tumbled 20% after withdrawing its applications with the OCC and Federal Reserve related to its proposed acquisition of Grasshopper Bancorp. The company said regulatory guidelines did not provide clear standards for nonbanks seeking bank status.
Enova reaffirmed its full-year outlook, guiding for revenue growth of 20% to 25% and adjusted earnings per share growth of 30% to 35%. The company also said it plans to accelerate share repurchases, with $349 million available under its current buyback authorization.
Sysco fell about 2% after pricing a share offering of roughly 12.34 million shares at $81 each, raising gross proceeds of around $1 billion. The company plans to use the funds toward its pending acquisition of Jetro Restaurant Depot.
Markets remain on edge ahead of the Fed rate decision, with oil supply risks from the Middle East adding to the pressure on yields and broader sentiment.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
