US Stock Futures Fall as Caution Persists Ahead of Nvidia Results
U.S. stock futures signaled a muted open on Tuesday as investors remained cautious ahead of Nvidia’s highly anticipated quarterly results later this week.
As of 05:38 ET (10:38 GMT), Dow futures slipped 23 points (0.1%), S&P 500 futures fell 13 points (0.2%), and Nasdaq 100 futures dropped 83 points (0.4%).
Wall Street’s major indices closed Monday’s choppy session mixed. The S&P 500 retreated 0.5%, while the Dow Jones Industrial Average inched up 0.1%. The Nasdaq Composite was the biggest laggard, tumbling 1.2% as traders assessed the impact of heavy artificial intelligence spending by mega-cap tech firms ahead of Nvidia’s earnings on Wednesday.
Tariff Uncertainty and China Tensions Weigh on Markets
Investor sentiment was also dented by former U.S. President Donald Trump’s remarks that 25% tariffs on Canada and Mexico would proceed after previously being delayed until March. Markets are navigating recent weak economic data and ongoing uncertainty surrounding U.S. political developments.
Asian stocks mostly declined on Tuesday, while European equities posted modest gains. Risk appetite took a hit following a Bloomberg report that the White House is planning stricter controls on semiconductor technology exports to China—particularly Nvidia chips. Over the weekend, Trump also called for increased scrutiny of Chinese investments in key U.S. sectors, raising fears of escalating tensions with Beijing.
Nvidia (NVDA) and Intel (INTC) saw premarket declines following the report.
Company News: Hims & Hers, Zoom, and Commodities
Shares of Hims & Hers (HIMS) plummeted in premarket trading after the telehealth company warned it may halt sales of a popular weight-loss drug from Denmark’s Novo Nordisk (NVO).
Zoom Video Communications (ZM) also faced losses after issuing first-quarter and full-year revenue guidance that fell short of analysts’ expectations.
Meanwhile, gold prices edged lower but remained near record highs, buoyed by safe-haven demand amid tariff concerns. Overnight, the precious metal hit a new peak after Trump reaffirmed his tariff plans on Canada and Mexico.
Oil prices moved in a flat line after the United States announced new sanctions on more than 30 transportation companies, brokers, and oil operators involved in the transportation of oil from Iran. The move raised concerns about tightening supplies worldwide.
