U.S. stock futures rose slightly on Monday night, following a mostly higher session on Wall Street as investors jumped back into tech names after a fierce sell-off last week.
Dow Jones Industrial Average futures traded 56 points higher, or 0.1%. S&P 500 futures climbed 0.1%, while Nasdaq-100 futures advanced 0.2%.
The S&P 500 climbed 0.4% in regular trading, while the Nasdaq Composite advanced more than 1%, with tech leading the charge. Nvidia added 1.4%, and Tesla jumped 3.8%. Alphabet shares advanced about 1%.
In Asia, Japan's Nikkei 225 declined 0.79% on Tuesday, while South Korea's Kospi lost 2.31%. Australia's S&P/ASX 200 traded 0.6% lower. Hong Kong's Hang Seng Index fell 1.11%, while mainland China's CSI 300 lost 0.58%.
Tech last week suffered a rout that spilled over into the broader market, as concerns grew around companies borrowing too much money for their artificial intelligence build-outs.
"Improving moods regarding the prospects of modern technology have Wall Street breathing a sigh of relief as participants drop hedges, after the cost of volatility protection soared intraday on Friday, ahead of the intensifying selloff," wrote Jose Torres, senior economist at Interactive Brokers.
CoreWeave, which fell more than 25% last week, tried to recover some of that decline after a Goldman Sachs upgrade to buy. However, early gains fizzled and the stock closed slightly lower.
Investors on Tuesday will parse through a slew of corporate earnings. United Airlines is due to post after the bell, while General Motors is set to report before the open.
It's a busy week of earnings, with roughly 70 S&P 500 companies on deck to report results. Housing starts and pending home sales figures are also scheduled for release Tuesday.
1 Hour AgoAsian chip stocks slide as AI spending fears linger
Asian chip stocks fell Tuesday, bucking an overnight rebound in U.S. technology shares as concerns over the sustainability of artificial intelligence spending continued to weigh on sentiment.
South Korean memory chipmaker SK Hynix slid 4.07%, while Samsung Electronics lost 1.03%.
In Japan, tech investor SoftBank Group tumbled 4.46%, while chip equipment maker Tokyo Electron shed 1.45% and Renesas Electronics fell 1.49%.
The declines come as the tech-heavy Nasdaq Composite rebounded more than 1% on Monday, with U.S. chip giant Nvidia gaining 1.4%, Intel advancing 2%, Advanced Micro Devices and Micron adding adding 1.8% and about 3%, respectively.
— Lee Ying Shan
2 Hours AgoJapan's Nikkei 225 and South Korea's Kospi slide
Asia-Pacific markets opened in the red on Tuesday.
Japan's Nikkei 225 declined 0.85%, while the Topix slid 0.56%. South Korea's Kospi lost 2.20%, while the small-cap Kosdaq was down 1.03%.
Australia's S&P/ASX 200 traded 0.84% lower.
—Lee Ying Shan
2 Hours AgoAsia-Pacific markets set to open subdued
Asia-Pacific markets were set to fall Tuesday, breaking ranks with Wall Street that rose as U.S. technology stocks rebounded from last week's sharp sell-off.
Japan's Nikkei 225 was poised to decline at open, with its Chicago futures contract last at 64,910, compared with the index's previous close of 64,916.7.
Futures for Hong Kong's Hang Seng index stood at 24,112 lower than the index's last close of 24,186.83.
Australia's S&P/ASX 200 was down 0.9% in early trade.
— Lee Ying Shan
4 Hours AgoStocks are ready to move on from the AI rout. The credit market is not
AI stocks rallied on Monday, but CoreWeave closed slightly lower as investors remained skittish about its debt. Yields on Oracle debt also remained elevated as credit worries persist across the AI trade.
The tech-heavy Nasdaq Composite gained 1% on Monday. CoreWeave, the so-called neocloud company that led the sell-off last week, bounced around, hit a 52-week low and ultimately closed fractionally lower. Meanwhile, its bond yields remained high and its five-year credit default swaps were at distressed levels.
— Michelle Fox
4 Hours AgoStock futures open higher
Dow Jones Industrial Average futures traded 56 points higher, or 0.1%. S&P 500 futures climbed 0.1%. Nasdaq-100 futures advanced 0.2%.
— Fred Imbert
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