US Stocks-Wall St futures climb ahead of this week's megacap earnings
SPY•Premarket levels and chip shares
At 07:10 a.m. ET, Dow E-minis YMcv1 were up 133 points, or 0.25%, and S&P 500 E-minis EScv1 were up 29.25 points, or 0.39%. Nasdaq 100 E-minis NQcv1 were up 228.5 points, or 0.79%.
On Monday, memory chipmakers were higher, with Western Digital WDC.O, Seagate Technology STX.O, Micron Technology MU.O and SanDisk SNDK.O up between 3.2% and 4.2% in premarket trading.
The three main U.S. indexes fell sharply last week, pressured by a steep pullback in high-flying semiconductor shares.
The declines came even as benign inflation data eased some fears of a Federal Reserve rate increase later this month, while major U.S. banks kicked off earnings season on a positive note.
Markets are pricing in about a 12% chance of a quarter-point rate hike at the Fed's July meeting and a roughly 53% chance of another hike in September, according to CME's FedWatch tool.
