US Futures Steady Ahead of Fresh Earnings

US stock futures were little changed on Tuesday as investors looked ahead to another batch of corporate earnings that could provide fresh clues on tech performance and consumer activity. Key earnings due later in the global day include Intuit, Zoom, Semtech, Dick’s Sporting Goods and Macy’s. Investors will also turn their attention to Nvidia’s earnings report on Wednesday for further insight into the strength of artificial intelligence-related demand. On the economic front, US consumer confidence data are due Tuesday, followed by the latest personal consumption expenditure price index on Wednesday. Additionally, Federal Reserve Chair Kevin Warsh is scheduled to deliver a speech at the Fed’s annual Jackson Hole symposium on Friday. In regular trading on Monday, the Dow rose 0.26%, while the S&P 500 and Nasdaq Composite fell 0.28% and 0.76%, respectively, amid broad-based losses across AI infrastructure stocks.

The Dow Jones Index went up by 140 points or 0.26 percent on Monday to close at 53417 points. The rise was led by Visa (3.17%), Walmart (2.74%) and Walt Disney (2.70%). On the downside, the weakerst performers were Nvidia (-2.92%), Caterpillar (-2.03%) and IBM (-1.94%).

US stocks closed mixed on Monday as losses in chipmakers offset gains across broader sectors. The S&P 500 fell 0.3% and the Nasdaq lost 1%, while the Dow added 140 points. AI infrastructure stocks led the declines amid persistent uncertainty over returns in the sector, although support from upcoming LLM developer IPOs helped offset concerns that capital spending on chips may have been excessive. Broadcom fell 2.6%, Micron lost 5.8%, AMD shed 3.5%, Intel retreated 3.1% and Sandisk tumbled 6.4%. Nvidia dropped 2.9% ahead of its earnings report on Wednesday, the next major catalyst for the AI trade. Meanwhile, energy prices eased but remained elevated as the US pledged to isolate Iran economically, adding to concerns over inflation as high energy costs magnified the impact of elevated deficit spending and Treasury bond-buyback efforts. Still, credit services stocks recovered from last week’s pullback, with Visa up 3.1% and Mastercard adding 3.3%.