Stock futures pointed higher Tuesday, a day after major indexes plunged on worries about AI disruption and uncertainty over the state of President Donald Trump’s tariffs.
Dow Jones Industrial Average, S&P 500, and Nasdaq 100 futures rose 0.3%, 0.2%, and 0.2%, respectively. Yesterday, the blue-chip Dow sank 1.7%, or more than 820 points, while the tech-heavy Nasdaq and benchmark S&P 500 ended down 1.1%, and 1%, respectively.
The indexes dropped Monday in part because of fresh uncertainty in the trade outlook. Last Friday, after the Supreme Court struck down the majority of his tariffs announced last April, Trump announced a 10% global hike, then increased it to 15% a day later.
In addition, fears about how AI could disrupt their businesses caused shares of IBM (IBM), Datadog (DDOG), CrowdStrike (CRWD), and AppLovin (APP) to sink 13%, 11%, 10%, and 9%, respectively. Shares of IBM, Datadog, and CrowdStrike edged higher before the bell Tuesday, while those of AppLovin ticked lower.
A day after five of the Magnificent Seven tech giants’ stocks closed lower, all pointed higher except for Tesla (TSLA). Shares of Nvidia (NVDA), which reports its highly anticipated earnings Wednesday, were up 0.5% before the bell.
In post-earnings moves, Home Depot (HD) stock rose 4% and Hims & Hers Health (HIMS) sank 7%. Whirlpool (WHR) shares dropped 8% on news the appliance maker would issue $800 million in new shares in part to pay off debt, while FedEx (FDX) shares pointed slightly higher before the bell after the package-delivery giant sued the U.S. government over Trump’s tariffs.
Bitcoin was trading around $63,200, down from overnight highs near $65,000. The 10-year Treasury yield, which influences interest rates on a variety of consumer loans including mortgages, was little changed from Monday’s close below 4.04%.
Gold futures slipped 0.7% to $5,190 an ounce, while silver futures rose 1.4% to $87.80 an ounce. West Texas Intermediate futures, the U.S. crude oil benchmark, were little changed at $66.30 a barrel.
The U.S. dollar index, which tracks the value of the greenback against a basket of currencies, was 0.2% higher at 97.86.