The Dow Jones futures were up by 0.11% while the S&P 500 futures were up 0.04%.
- All eyes are on the Fed’s rate decision scheduled for Wednesday.
- NVIDIA is in the spotlight after President Donald Trump declared on Monday that the U.S. will allow it to ship its H200 chips to China and other countries upon fulfillment of certain conditions, even as reports emerge of Beijing limiting access.
- Retail sentiment on Stocktwits for the S&P 500 ETF and Invesco QQQ was in the ‘bearish’ territory.
U.S. equities are treading cautiously in Tuesday’s premarket session as investors await the Fed’s key rate policy decision due on Wednesday.
While Dow Jones futures were up by 0.11% at the time of writing, the S&P 500 futures rose 0.04% while the Nasdaq 100 futures declined 0.03%.
The SPDR S&P 500 ETF (SPY) was up by 0.06%, Invesco QQQ Trust (QQQ) edged 0.03% lower, and SPDR Dow Jones Industrial Average ETF Trust (DIA) rose 0.11% in premarket. Retail sentiment around the S&P 500 ETF and Invesco QQQ on Stocktwits was in the ‘bearish’ territory.
Fed Rate Anticipation
While the market expects a 25-basis-point cut, uncertainty about fresh tariffs on Mexico, Canada, and India is also affecting investor sentiment.
There is an 89.4% probability of a 25 basis point rate cut this week, according to the latest data from the CME FedWatch tool. Last week, Morgan Stanley joined peers JPMorgan and Bank of America (BofA) to revise its expectations and reiterate a 25-basis-point cut from its previous expectation of a status quo policy.
Stocks To Watch
Nvidia (NVDA): The chip giant is in the spotlight after President Donald Trump declared on Monday that the U.S. will allow it to ship its H200 chips to China and other countries upon fulfillment of certain conditions, even as reports emerge of Beijing limiting access. Shares of NVDA are up 1.7% in premarket trading.
Vor Biopharma (VOR):VOR shares are up over 26% at the time of writing due to positive sentiment around a recent Phase 3 clinical study. JPMorgan has initiated coverage on Vor Bio with a bullish view.
Exicure Inc (XCUR): The early-stage biotech company XCUR is up over 77% in premarket trading because of positive Phase 2 trial results for its cancer treatment.
GameStop (GME), Dave & Buster's (PLAY), Core & Main Inc (CNM), SailPoint Technologies (SAIL), and Casey's General Stores (CASY) are among the companies scheduled to report their latest quarterly earnings on Tuesday.
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