Global stock futures jumped Tuesday morning as Brent crude tumbled more than 3% below the $90 threshold, driven by fresh diplomatic optimism in the Middle East. Reports indicate that evacuated U.S. foreign service officers could return to their regional posts as early as this week. What does this mean for investors who’ve been bracing for prolonged conflict? Wall Street clearly sees reduced geopolitical risk.
The tech sector led the charge. Nvidia climbed 0.9% in premarket trading, poised to snap a seven-session losing streak ahead of its crucial quarterly earnings Wednesday. Semiconductor stocks surged roughly 2%, with memory chipmakers jumping 3.5%. The artificial intelligence trade appears back in full swing after days of retreat.
S&P 500 futures advanced 0.4% while Nasdaq 100 futures gained 0.9% as of 8:00 a.m. Eastern Time. Treasury yields declined up to four basis points, providing additional support for risk assets. Still, trading volumes remain thin, with Monday marking the second-lowest tape volume this year.
Not every stock rode the wave higher. ’s Sporting Goods plunged 12% after slashing its full-year outlook, citing weakness at recently acquired Foot Locker. Meanwhile, Bitcoin climbed above $80,000 for the first time since mid-May, benefiting from renewed dollar debasement concerns and shifting investor sentiment toward alternative assets.
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