US stock futures flat as tech bounce meets crude-driven caution
SPY•U.S. stock futures were little changed, with Dow futures down 0.07%, S&P 500 futures down 0.04% and Nasdaq 100 futures up 0.06%. Rising oil prices and Treasury yields offset gains in technology stocks as investors watched U.S.-Iran talks and upcoming economic data.
1. Futures trade sideways
U.S. stock index futures traded sideways on Tuesday as technology and AI-linked stocks edged higher while rising crude prices and steep bond yields weighed on risk appetite. Most chip-related stocks rose after a sector-wide selloff on Monday; Marvell Technology, Micron Technology and Broadcom each gained around 1% in premarket trading, while Nvidia added 0.7%.
2. Oil and yields weigh
Oil prices rose for a second consecutive session as President Donald Trump said he had offered Iran nothing to end the war. The 10-year Treasury yield hovered near its highest level since 2007, and traders saw a 70% chance of another interest rate hike in October. August job openings data and remarks from at least six Federal Reserve officials were due later Tuesday.
3. Company news
Anthropic's IPO prospectus showed sharply higher growth over the past year alongside wider losses; the company is targeting a valuation above $2 trillion in a public offering. Separately, Summit Therapeutics rose 22.4% after saying AstraZeneca would invest $2 billion and collaborate on cancer-treatment studies. PepsiCo fell 0.7% after a downgrade to neutral from overweight.
