U.S. Stock Futures Update and Key Events for OptionsPlayers Members
Stock Futures Hover Near Flatline Amid AI Sector Volatility
U.S. stock futures were largely unchanged on Tuesday following a mixed session, marked by significant fluctuations in AI-related equities. By 04:20 ET (08:20 GMT), Dow futures had gained 70 points (0.2%), S&P 500 futures climbed 12 points (0.2%), and Nasdaq 100 futures rose by 45 points (0.2%).
The Dow Jones Industrial Average reached a one-month high on Monday, driven by investor rotation from AI-exposed semiconductor firms like Broadcom (NASDAQ: AVGO), Marvell Technology (NASDAQ: MRVL), and Qualcomm (NASDAQ: QCOM) into other sectors such as energy. Meanwhile, Nvidia (NASDAQ: NVDA) saw its stock dip for the third consecutive session.
The Nasdaq Composite experienced its largest one-day decline in nearly two months, while the S&P 500 ended the day 0.3% lower. Investors are now looking forward to the release of the personal consumption expenditures price index report on Friday, the Federal Reserve’s preferred inflation metric, which could influence expectations for potential interest rate cuts later this year.
Nvidia Shares See Premarket Rise
Nvidia shares rose in premarket trading on Tuesday after a three-day losing streak that erased over $430 billion in market value. Despite the recent decline, Nvidia’s shares have surged by 138% year-to-date, making it one of the top-performing stocks on the Nasdaq 100.
Analysts attribute the recent slide to sector rotation and profit-taking rather than fundamental business issues. On Monday, Jefferies analysts raised their price target for Nvidia to $150 per share from $135, maintaining a Buy rating and highlighting Nvidia’s dominance in the AI sector.
Regulatory Issues and Market Moves
- Apple Faces EU Regulatory Scrutiny: The European Commission announced that Apple’s (NASDAQ: AAPL) App Store rules breach EU tech regulations, preventing app developers from steering consumers to alternative offers.
- ByteDance and Broadcom AI Chip Partnership:Â ByteDance is collaborating with Broadcom (NASDAQ: AVGO) to develop an advanced AI processor, complying with U.S. export restrictions.
Bitcoin Volatility and Crude Prices
Bitcoin experienced volatile trading, falling 2.5% in the past 24 hours to $60,908.5 by 03:26 ET (07:26 GMT). Regulatory concerns and reports of the German government selling confiscated tokens contributed to the pressure on crypto prices.
Crude prices steadied ahead of the latest U.S. crude inventory data release, with U.S. crude futures trading 0.1% lower at $81.56 per barrel and Brent dropping 0.1% to $85.03 a barrel.
Important Reminders for OptionsPlayers Members:
- Moomoo Live Session review link from yesterdays session –Â https://reurl.cc/bV8W4E
- OP Live Market Analysis & Q&AÂ Tomorrow at 7:00 PM ET:Â Don’t miss our in-depth market review and Q&A session.
- What’s Next Wall Street Episode: A new episode has just dropped. Check it out wherever you get your podcasts or watch on YouTube.
Stay informed and leverage these opportunities to enhance your trading strategies and achieve your goals.
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