Nasdaq, S&P Futures Fimer As Traders Eye Annual Jobs Data Revision: Oracle Earnings, Apple Event In Spotlight

Tech optimism continues to abound, with the Nasdaq futures early Tuesday. The space could be getting a boost from an artificial intelligence (AI) deal Microsoft (MSFT) announced with Nebius Group (NBIS).

Oracle Corp.’s (ORCL) earnings for the first quarter of the fiscal year 2026, due after the market closes, could also generate excitement in the tech space.

Confirmation that the AI revolution is alive and kicking could renew trader optimism toward the sector and, in turn, the broader market, which is heavily weighted with tech stocks.

Traders also wait with anticipation for Apple, Inc.’s (AAPL) “Awe Dropping” event, with the tech giant widely expected to announce a major design overhaul for its flagship iPhone device. 

As of 5:20 a.m. ET on Tuesday, the Nasdaq 100 futures climbed 0.19%, and the S&P 500 futures gained 0.11%, while the Dow and Russell 2000 futures were flattish.

In the premarket, the SPDR S&P 500 ETF (SPY), an exchange-traded fund (ETF) that tracks the S&P 500 Index, added 0.12%. The Invesco QQQ Trust (QQQ) gained 0.20%. Meanwhile, the iShares Russell 2000 ETF (IWM) and the SPDR Dow Jones Industrial Average ETF Trust (DIA) edged up 0.02%.

U.S. stocks reversed course on Monday, although trading was characterized by volatility amid the uncertainties that continue to abound. IT and consumer discretionary gained some ground, helping to offset the weakness or sluggish performances of most other sectors.

Nevertheless, the Nasdaq Composite Index hit an all-time intraday and closing high.

The SPY, QQQ, DIA, and IWM ETFs rose 0,25%, 0.49%, 0.27% and 0.20%, respectively.

On the economic front, traders will likely keenly watch the BLS’ preliminary estimate for the March 2025 annual benchmark revision to jobs data, which is scheduled to be announced at 10 a.m. ET on Tuesday. A steeper downward revision may stir up recession concerns, although traders could take it as a definitive pointer toward a rate cut next week.

The National Federation of Independent Business (NFIB) optimism index for August is due at 6 a.m. ET.

Aside from Oracle, AeroVironment (AVAV), GameStop (GME), Rubrik (RBRK) and Synopsys (SNPS) are among the other notable names reporting their quarterly results on Tuesday. 

Crude oil and gold futures extended their rally, with the latter at new highs, and the 10-year U.S. Treasury note yield held above the 4% level. The dollar is languishing near a 7-week low. 

Most major Asian markets retreated on Tuesday, while European stocks also traded modestly lower.

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