Nasdaq, S&P 500 Futures Gain Premarket While Oil Rebounds: CLS, NVDA, SKHY, CRWV, SOFI In Focus

• U.S. stock futures were up in premarket trading ahead of corporate earnings and the Federal Reserve’s two-day policy meeting, following Monday’s Wall Street gains.
• Oil reversed early losses, with Brent crude futures rising above $116 a barrel and WTI crude futures topping $102 amid shifting U.S.-Iran peace hopes.
• SoFi and PayPal shares fell ahead of their results, while Broadcom and Uber stocks edged higher.

 U.S. stock futures rose early on Tuesday after Wall Street closed higher in the previous session, lifted by artificial-intelligence optimism following Anthropic’s filing for an initial public offering (IPO).

As of 5.30 a.m. ET, Nasdaq 100 futures were up 0.11%, while Dow futures rose 0.18% and S&P 500 futures were up 0.1%.

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Earlier on Monday, the S&P 500 ended 0.7% higher, while the Nasdaq 100 gained 1.1%. The Dow Jones Industrial Average added 0.3%, and the Russell 2000, which tracks small-cap stocks, advanced 0.4%.

Investors are now turning their attention to a fresh batch of corporate earnings and the start of the Federal Reserve’s two-day policy meeting. 

Oil Prices Rebound After Early Losses

Oil prices initially fell on Tuesday as renewed diplomatic efforts to end the U.S.-Iran war raised hopes of easing tensions across the wider region, where the conflict has also involved Tehran-backed Houthis supporting Saudi Arabia.

However, prices later pared their losses and moved into positive territory. By around 5.30 a.m. ET, Brent crude futures had risen 0.47% to $116.36 a barrel, while WTI crude futures gained 0.51% to $102.27 a barrel.

The Tech Radar

Nvidia (NVDA): The company announced a $3 billion investment in Meta Platforms’ (META) equity offering and a partnership to improve Meta’s Muse AI agentic platform. Meta announced a $97.5 billion equity offering on Monday. Later in the day, it said it had sold $12.5 billion in preferred shares at $50 apiece and $25 billion in common stock at $625 per share. META shares traded 0.15% higher in early premarket trading.

SK Hynix (SKHY): South Korean newspaper Dong-A Ilbo reported that the memory chipmaker was considering a special dividend of around 16 trillion won ($12 billion). The report came ahead of the company’s third-quarter earnings announcement on Wednesday.

Celestica (CLS): Shares of the company jumped nearly 17% in early premarket trading on Tuesday after the data center infrastructure firm posted better-than-expected third-quarter results and signaled strong demand for AI-related infrastructure. Revenue soared 83% year on year to $5.83 billion, beating analyst estimates of $5.47 billion. Adjusted earnings per share more than doubled to $3.30, ahead of the $2.96 consensus forecast

CoreWeave (CRWV): Shares were up 1.3% in premarket trading on Tuesday, recovering from a sharp sell-off the previous session. The stock hit a 52-week low on Monday as concerns over the neocloud sector mounted. Pressure intensified after Elon Musk said SpaceX would not acquire neocloud companies, calling such a move “pointless.” CoreWeave shares subsequently rebounded, finishing the session nearly 2% higher.

Trending Stocks

SoFi Technologies (SOFI): Shares fell 0.21% in premarket trading ahead of the fintech company’s third-quarter results, due before the market opens on Tuesday. Analysts expect revenue of $1.26 billion, up 32% from $949.63 million in the same quarter last year, according to Fiscal.ai. Earnings per share are expected to rise to $0.17 from $0.11 a year earlier.

Broadcom (AVGO): Shares rose 1.35% in early premarket trading. Broadcom and a consortium of major Wall Street financial institutions announced a $63 billion financing arrangement on Monday to supply hardware to AI startup Anthropic. The consortium includes Bank of America (BAC), Blackstone (BX), Citigroup (C) and Morgan Stanley (MS). The funding will support the acquisition of hardware needed to train and run next-generation AI models.

PayPal Holdings Inc. (PYPL): The stock was down 0.38% in early premarket trading ahead of the payments company’s first-quarter results, due before the bell. Analysts expect revenue of $8.71 billion, up from $8.42 billion in the comparable quarter last year, according to Fiscal.ai. Earnings per share are forecast at $1.31, down from $1.34 a year earlier.

Uber Technologies (UBER): Shares were up 0.12% in premarket trading on Tuesday. Early Uber investor Jason Calacanis disclosed $1 million purchases in both Uber and Tesla, with his price targets implying around 85% upside for the ride-hailing company, compared with 40% for Tesla from their respective entry prices.

Other tickers trending on Stocktwits at the time of writing included Baidu Inc (BIDU), Celestica Inc. (CLS) and Trump Media & Technology Group Corp. (DJT). 

What Else To Watch On Tuesday

Investors will track a fresh batch of third-quarter earnings, with Boeing (BA), PayPal Holdings (PYPL), SoFi Technologies (SOFI) and Coca-Cola (KO) scheduled to report before the opening bell. Robinhood (HOOD) and Visa (V) are among the companies due to report after the market closes.

The Federal Reserve will also begin its latest two-day policy meeting. While the central bank is widely expected to leave interest rates unchanged, investors will look for clues about its next move and whether another rate hike remains possible before the end of the year.

SPY, QQQ, DIA: Retail Sentiment

Retail sentiment on Stocktwits remained weak across major index-tracking ETFs. Sentiment toward the SPDR S&P 500 ETF (SPY), which tracks the S&P 500, remained ‘bearish’ over the past 24 hours. The Invesco QQQ Trust (QQQ), which tracks the Nasdaq 100, continued to see ‘extremely bearish’ sentiment, unchanged over the same period. Meanwhile, sentiment toward the SPDR Dow Jones Industrial Average ETF Trust (DIA) also remained ‘bearish.’

Also read: Michael Burry Says Anthropic’s IPO Filing Changes Nothing About His AI Bear Case — Flags Financial Risks Beyond The Tech

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