Nvidia Gains 0.8% Premarket as Chip Stocks Rally, Oil Falls 2%
NVDA•Pre-market futures for Nvidia rose around 0.8% as chip stocks extended gains on easing Middle East hostilities and a 2% drop in oil prices. US stock index futures climbed (Dow +0.24%, S&P +0.47%, Nasdaq100 +0.81%), though Fed rate-hike risks remain after a stronger-than-expected jobs report.
1. Premarket Futures Rally
US stock index futures climbed Tuesday, lifting Nvidia shares by about 0.8% in premarket trading as chip stocks extended their rebound from last week's selloff.
2. Geopolitical and Commodity Factors
A halt in Iran-Israel attacks improved risk sentiment, contributing to a 2% decline in oil prices and supporting gains across technology and AI-related equities.
3. Fed Rate-Hike Concerns
Stronger-than-expected May jobs data heightened expectations of additional Federal Reserve rate increases, with upcoming May CPI figures set to further influence Nvidia's near-term trading dynamics.
