U.S. equity futures increased on Tuesday amid declining Treasury yields. Chip stocks also saw gains as investors anticipated Nvidia’s upcoming earnings report.
Futures linked to the Dow Jones Industrial Average rose by 236 points, or 0.4%. S&P 500 futures gained 0.4%, and Nasdaq 100 futures climbed 0.8%.
The yield on the 10-year Treasury note dropped to 4.658%, continuing its decline after reports that the Treasury Department might use its substantial General Account balance to fund bond repurchases.
Investor interest shifted toward chip stocks ahead of Nvidia’s earnings announcement scheduled for Wednesday after the market closes.
Shares of AMD and Micron Technology each increased by more than 2%, while Intel rose over 3%.
Broadcom and Nvidia both gained more than 1%, with the iShares Semiconductor ETF (SOXX) increasing by over 2%.
Source (CNBC)
