US Futures Edge Lower After Tech

US Futures Edge Lower After Tech-Led Rebound

US stock futures eased on Tuesday after the S&P 500 and Nasdaq Composite opened the week higher, supported by a rebound in technology shares.

In regular trading on Monday, the S&P 500 and Nasdaq Composite gained 0.3% and 0.86%, respectively, recovering part of the previous session’s losses, while the Dow slipped 0.16%.

Technology, energy, and consumer discretionary stocks led the advance, whereas utilities, real estate, and materials underperformed.

Chipmakers drove much of the rally, with shares of Micron Technology (+9.9%), Nvidia (+1.7%), Marvell Technology (+9.6%), Intel (+11.2%), and Advanced Micro Devices (+5.1%) posting solid gains.

Investors are now awaiting earnings reports from Casey’s General Stores, J.M. Smucker, and Designer Brands, among others, due Tuesday.

Later this week, the latest US CPI and PPI data will offer further insight into the Federal Reserve’s interest rate outlook.

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