Key Takeaways Nasdaq 100 and S&P 500 futures rebound Tuesday following Monday’s technology sector selloff Bitcoin climbed past $80,000 for the first time since February Fresh US sanctions tar
Equity futures are trending upward Tuesday morning as market participants shift attention away from newly imposed Iran sanctions and toward two critical events on the horizon: Nvidia’s quarterly earnings announcement and the Federal Reserve’s annual Jackson Hole Economic Symposium.
Futures tied to the Nasdaq 100 advanced 0.76% during premarket hours, bouncing back from Monday’s technology-led decline. Futures for the S&P 500 increased 0.36%, while Dow futures added 0.39%, representing a gain of 207 points.
E-Mini S&P 500 Sep 26 (ES=F)The previous session saw the Nasdaq Composite end lower, weighed down by worries surrounding artificial intelligence investment commitments from major technology corporations. The Dow Jones Industrial Average stood alone as the only primary benchmark to post gains Monday.
US Treasury Secretary Scott Bessent unveiled sanctions targeting over 60 entities, individuals, and maritime vessels connected to Iran during Monday’s session. The announcement generated minimal reaction across financial markets.
Oil prices declined despite the sanctions announcement. Brent crude fell 0.8% to settle at $89.84 per barrel, while West Texas Intermediate, the US benchmark, decreased 0.7% to $84.37 per barrel. Market strategists at ING characterized the response as viewing the measures as “marginal rather than market-moving.”
While the sanctions sparked speculation about potential Strait of Hormuz disruptions, crude prices nevertheless declined.
Bitcoin breached the $80,000 level for the first time since late February. The cryptocurrency’s advance followed recent Treasury bond market interventions that intensified fears regarding US dollar devaluation, steering capital toward alternative store-of-value assets.
Gold prices, which had climbed in recent sessions, consolidated Tuesday.
Nvidia is scheduled to release quarterly results following Wednesday’s market close. The semiconductor giant has experienced seven consecutive sessions of declines, and its financial report is widely viewed as a critical barometer for artificial intelligence infrastructure spending throughout the technology sector.
Marvell Technology’s earnings, due Thursday, will provide additional perspective on AI chip demand trends.
Federal Reserve Chair Kevin Warsh is scheduled to deliver his first address as Fed chairman at the Jackson Hole Economic Symposium, which commences Thursday. Investors will parse his remarks for guidance on the central bank’s approach to persistent inflation pressures.
Ahead of that event, Tuesday’s economic calendar includes new residential sales figures, ADP private payroll data, and manufacturing sector indicators. Wednesday will bring the PCE inflation gauge, the Fed’s preferred inflation measure.
Yields on US government bonds moved modestly higher in early action. The benchmark 10-year Treasury yield climbed to 4.710%, while the 30-year bond yield touched 5.237%.
Dick’s Sporting Goods tumbled 13% in premarket activity after delivering disappointing second-quarter results and lowering its full-year guidance. Intuit and Zoom Communications are among other companies scheduled to report earnings Tuesday.
Equity markets across Asia declined broadly overnight, pressured by the Iran sanctions announcement and Nvidia’s recent downward momentum.
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