Nasdaq, S&P 500 Futures Steady Ahead Of Big Bank Earnings: Why NVDA, MSFT, JPM, NVO, GSAT, AAL Are Trending Premarket

• Fresh reports of potential U.S.-Iran talks offered some relief, even as concerns around the Strait of Hormuz continued to hang over global markets.
• After Goldman Sachs, JPMorgan headlines a crucial batch of bank earnings that could set the tone for the season.
• Wholesale inflation data due at 8:30 a.m. ET could shape rate expectations from the Fed’s meeting later this month. 

U.S. stock futures held steady early Tuesday as investors turned their attention to earnings season, finding some relief in fresh diplomatic signals from the Middle East. Reports that the U.S. and Iran are considering another round of talks to revive the ceasefire offered a measure of hope, even as the Strait of Hormuz blockade continues to weigh on markets.

As of 4:00 a.m. ET on Tuesday, Nasdaq and Russell 2000 futures were up 0.3%, Dow and S&P 500 futures gained 0.1%.

Retail sentiment toward the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, and the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq-100 Index, has moderated to ‘bearish’ from ‘extremely bearish’ amid high trading volume. 

Trending Stocks To Watch

Nvidia (NVDA): The AI bellwether denied reports it was in talks to acquire a PC manufacturer. This denial follows earlier reports that had led to a short-term rally in HP Inc. and Dell Technologies stocks on Monday. 

Microsoft (MSFT) is reportedly plotting new Copilot features inspired by OpenClaw.

JPMorgan (JPM): Jamie Dimon takes center stage this morning as it reports earnings. After Goldman Sachs delivered a mixed bag, all eyes are on JPMorgan and Dimon for signals on the health of the U.S. consumer.

American Airlines (AAL): Shares rose nearly 5% in early pre-market trade following reports that United Airlines (UAL) CEO Scott Kirby pitched a massive industry-reshaping merger to senior government officials.

Novo Nordisk (NVO): The pharma company is integrating OpenAI across its entire drug development stack to gain market share in the obesity market. The stock was the top-trending stock on Stocktwits at the time of writing.

Globalstar Inc (GSAT): The stock is trending on heavy volume following reports that a major partnership with Amazon (AMZN) could be announced as soon as Wednesday.

SanDisk (SNDK): Remains on the retail radar after Evercore initiated coverage with an "Outperform" and a $2,600 bull case, citing AI-driven data growth.

Other tickers trending on Stocktwits at the time of writing included Intel (INTC), Iren Limited (IREN), Rocket Lab (RKLB), and Poet Technologies (POET).

Other Catalysts To Watch

On the economic front, traders will be watching for the release of wholesale inflation data at 8:30 am ET today

On earnings radar, watch out for quarterly reports from JPMorgan (JPM), Johnson & Johnson (JNJ), Wells Fargo (WFC), Citigroup (C), BlackRock (BLK), and Abbott Labs (ABT) before the bell today. Also keep an eye out for BMNR, SPWR, STI, among other earnings after market close. 

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