Nasdaq Futures Decline As Investors Exercise Caution Ahead Of Jobs Report: NVDA, AVGO, TSLA, NIO Among Stocks To Watch

U.S. stocks appear set for a negative opening on Tuesday as investors await the release of the crucial July jobs report to gauge the trajectory of interest rates.

While Dow Jones futures were down 0.55% at the time of writing, the S&P 500 futures fell 0.71%, while the tech-heavy Nasdaq 100’s futures declined 0.88%. Futures of the Russell 2000 index were down 0.95%.

Meanwhile, the SPDR S&P 500 ETF (SPY) was down 0.76% at the time of writing, while Invesco QQQ Trust (QQQ) fell 0.94% on Monday morning. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bullish’ territory.

Asian markets ended Tuesday’s trading session on a mixed note, with the Hang Seng declining the most at 0.52%, followed by the Shanghai Composite at 0.45%, and the TWSE Capitalization Weighted Stock index at 0.23%.

The KOSPI closed 0.93% higher, while the Nikkei 225 index edged 0.07% higher.

Stocks To Watch

• Nvidia Corp. (NVDA), Broadcom Inc. (AVGO), Qualcomm Inc. (QCOM), Intel Corp. (INTC): Semiconductor stocks fell between 2% to 4% in Tuesday’s pre-market trade amid rising trade tensions with China.
• Tesla Inc. (TSLA): Tesla shares fell nearly 1% after reports that its China-made EV sales declined 4% year-on-year (YoY) in August, after an 8.4% YoY decline in July. Its India launch also witnessed a cold reception, with the EV maker receiving just over 600 orders for the Model Y, lower than its target of 2,500 units.
• Nio Inc. (NIO): Nio’s American Depository Receipts (ADR) fell nearly 1% pre-market after the company’s second-quarter (Q2) results came in below Wall Street expectations. Nio reported a loss of $0.32 per ADS on revenue of $2.65 billion, while Wall Street expected a loss of $0.31 per ADS on revenue of $2.73 billion, according to Stocktwits data.

Also See: Intel Received $5.7 Billion In Cash From US Government, Says CFO David Zinsner: Report

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