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U.S. stocks appear set for a cautious opening on Tuesday amid President Donald Trump’s ongoing tariff war, but a surge in Nvidia Corp.’s (NVDA) shares lifted Nasdaq futures in the pre-market session.
Nvidia stock surged nearly 5% on Tuesday morning after the company obtained assurance from the Trump administration that it would approve its license to sell the H20 AI chip in China.
Investors will also be watching for big bank earnings and the inflation print, which are scheduled to be released today.
While Dow Jones futures were down 0.09% at the time of writing, the S&P 500 futures were up 0.41%, and the tech-heavy Nasdaq 100’s futures surged 0.61%. Futures of the Russell 2000 index rose 0.1%.
Meanwhile, the SPDR S&P 500 ETF Trust (SPY) was up 0.45% at the time of writing, while Invesco QQQ Trust (QQQ) surged 0.66% on Tuesday morning. Retail sentiment around the S&P 500 ETF on Stocktwits has been in the ‘bullish’ territory over the past week.
Asian markets ended Tuesday’s trading session on a largely positive note, with the Hang Seng leading with gains of 1.57%, followed by the TWSE Capitalization Weighted Stock index at 0.97%, and the Nikkei 225 at 0.55%. The KOSPI closed 0.41% higher.
The Shanghai Composite index declined 0.42%.
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