Yahoo Finance
US stock futures climbed on Tuesday as the AI trade continued to take center stage on Wall Street, with chip stocks set to gain for a second day.
S&P 500 futures(ES=F)rose 0.4%, while those on the Nasdaq 100(NQ=F)advanced 0.7%, after tech stocksliftedmarkets to a modest rebound on Monday.
Contracts on the Dow Jones Industrial Average(YM=F)moved up 0.2%.
Chipmaker Micron Technology (MU) stock rose almost 4% in premarket, as Nvidia (NVDA) and Broadcom (AVGO) also edged higher to build on their comeback from Friday’s slump.
The action highlighted the strength of AI optimism despite growing concerns that persistent inflation could prompt the Federal Reserve toconsider a rate hike this year.
Meanwhile, one of the primary drivers of rising prices — the war with Iran — shows no signs of ending, though PresidentTrump said peace talks are on trackafter Iran and Israel agreed to end recenttit-for-tat attacks.
OpenAIsaidafter Monday's market close that it had confidentially filed paperwork for an initial public offering, a week after rival Anthropictook the same step.
Both AI companies are now positioned to trade on Wall Street as soon as this fall.
Wall Street is gearing up for a major event on Friday, when SpaceX (SPCX) could make its market debut and set a record for the largest public offering in history.
A leveraged exchange-traded fund tracking SK Hynix (000660.KS) deviated sharply from the underlying stock's move for a second day, underscoring the risk of investing in such products that have attracted strong retail interest.
The KIM ACE SK Hynix Single Stock Leverage ETF, designed to deliver twice the chipmaker's daily return, plunged 27% on Tuesday even as SK Hynix jumped 16%.
The divergence followed Monday's dislocation, when the ETF soared 50% despite the stock falling nearly 8%.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment