Pre-Market Update: Investors Are Piling Back Into Tech — Here’s What’s Moving Markets Tuesday

TLDR

• Nasdaq 100 futures jumped 0.7%, S&P 500 futures up 0.4%, Dow futures up 0.2%
• Chip stocks like Micron, Nvidia, and Broadcom are leading the rebound
• OpenAI filed confidentially for an IPO, one week after Anthropic did the same
• Bitcoin fell 0.3% over 24 hours to $63,090
• SpaceX could make its market debut on Friday in a potential record-breaking IPO

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US stock futures rose on Tuesday morning as investors continued buying the dip following last week’s AI-driven selloff. Tech stocks are leading the charge for a second straight day.

Nasdaq 100 futures climbed 0.7%. S&P 500 futures added 0.4%. Dow Jones futures rose 76 points, or 0.2%.

The gains follow a Monday rally where markets piled back into chip makers and other momentum stocks. Investors appear eager to snap up shares at lower prices after last week’s pullback.

Chip Stocks Bounce Back

Micron Technology rose nearly 4% in premarket trading. Nvidia and Broadcom also edged higher, building on their recovery from Friday’s losses.

The rebound reflects continued confidence in AI demand, despite growing concerns about inflation. Some investors worry that persistent price pressures could lead the Federal Reserve to raise interest rates this year.

“The tech stock pullback was a gift for investors, and we remain buyers on the dips,” said Robert Edwards, chief investment officer at Edwards Asset Management.

He added that strong revenue and earnings growth remain in place, which is driving aggressive buying during sharp pullbacks.

Investors are also watching Wednesday closely. Consumer price inflation data and quarterly earnings from Oracle could either extend the rally or cut it short.

OpenAI and Anthropic Both File for IPOs

After Monday’s close, OpenAI confirmed it had confidentially filed paperwork for an initial public offering. This came just one week after rival Anthropic took the same step.

Both AI companies are now on track to begin trading on Wall Street as soon as this fall. The back-to-back filings mark a major moment for the AI industry.

Wall Street is also watching Friday, when SpaceX could make its market debut. The launch could set a record for the largest public offering in history.

Bitcoin Slips as Dollar Weakens

Bitcoin fell 0.3% over the past 24 hours to $63,090. Analysts have said the cryptocurrency needs a much weaker dollar to stage a meaningful recovery.

The dollar slipped 0.1% against a basket of peer currencies. The move came after Iran and Israel agreed to halt recent exchanges of strikes, following calls from President Trump.

Oil prices also fell on the news. Brent crude dropped 1.2% to $93.14 a barrel. West Texas Intermediate fell 1.6% to $89.82.

The yield on the 10-year US Treasury note declined slightly to 4.55%.

Markets remain focused on the AI trade as the week continues. All eyes will be on inflation data and Oracle earnings Wednesday, with the potential SpaceX IPO on Friday rounding out a busy week.