- Wall Street futures indicated a higher opening with S&P 500 futures up 0.40% and Nasdaq-100 up 0.56%
- Investors awaited the Federal Reserve's policy decision, expecting interest rates to remain unchanged
- Semiconductor stocks rose sharply, led by SK Hynix, Samsung Electronics, and Japan's Advantest gains
Wall Street futures pointed to a higher opening on Tuesday as investors tracked gains in technology stocks, prepared for a crucial week of Big Tech earnings, and assessed easing crude oil prices ahead of the Federal Reserve's latest policy decision.
S&P 500 futures rose 0.40%, while Nasdaq-100 futures gained 0.56% as of 7:31 A.M GMT. Dow Jones Industrial Average futures advanced 180 points, or 0.34%, signalling a positive start for US equities following Monday's gains.
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Markets broadly expect the central bank to leave benchmark interest rates unchanged, shifting attention towards its assessment of inflation, economic growth and the future rate trajectory.
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Chip Stocks Extend Gains as AI Optimism Supports Technology Shares
Semiconductor stocks remained in focus as technology shares continued to benefit from optimism surrounding artificial intelligence.
Asian chipmakers rallied on Tuesday, tracking strength among their US peers. South Korea's SK Hynix gained 7.1%, while Samsung Electronics advanced 5.2%. In Japan, semiconductor equipment maker Advantest surged 8.8%, while Tokyo Electron rose 3.86%.
The broader AI trade also received a boost after Anthropic filed to go public on the Nasdaq, adding to expectations of another major technology listing in 2026.
Broadcom shares climbed more than 2% in premarket trading after a consortium of banks, including Bank of America, Citi and Morgan Stanley, alongside Blackstone, announced $63 billion in financing for the purchase of Broadcom's technology for Anthropic.
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Big Tech Earnings Take Centre Stage
There are some crucial earnings this week, with reports from major technology companies, including Meta Platforms and Alphabet, expected to provide fresh insight into corporate performance and AI-related spending.
Recent corporate updates have already triggered significant stock-specific moves.
UPS gained around 1.6% after reporting third-quarter adjusted earnings of $1.69 per share on revenue of $22.9 billion, beating analyst estimates. The company also raised its full-year revenue guidance to approximately $92.6 billion.
Corning rose nearly 3% after quarterly earnings and revenue exceeded expectations. PayPal, meanwhile, slipped 1% after reporting revenue below estimates despite raising its full-year profit forecast.
Easing Crude Oil Prices Offer Some Relief
Lower crude oil prices provided another potential tailwind for equities, easing some concerns about energy costs and inflationary pressures.
US West Texas Intermediate crude futures fell nearly 1% to around $101 per barrel, while global benchmark Brent crude declined approximately 1% to around $114.
A sustained decline in crude prices could offer some relief to businesses and consumers. It could also influence the Fed's assessment of inflation risks.
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