Daily Comment

U.S. stocks were set to open sharply lower Tuesday as a tech sell-off that began during the prior session picked up steam overnight, with global markets in Asia routed as memory chip-related shares tumbled. Nasdaq futures were pointing to a nearly 3% decline on Tuesday. Nasdaq 100 futures slid 3.1%. S&P 500 futures were 1.4% lower, while futures tied to the Dow Jones Industrial Average were down 215 points, or 0.4%.

S&P 500 futures were little changed on Monday as Wall Street assessed the latest developments in the Iran war negotiations and awaited the release of inflation data closely watched by the Federal Reserve. Futures tied to the broad market index traded around the flatline, while Nasdaq-100 futures gained 0.4%. Dow Jones Industrial Average futures added 48 points, or 0.1%.

Global stock markets were mixed on Friday, with Asia-Pacific bourses largely closing lower, as investors assessed the durability of a U.S.-brokered peace agreement with Iran.

U.S. stock futures ticked higher Thursday, with traders looking to recover after the Federal Reserve indicated the possibility of a rate hike this year—sparking a sell-off in equities during the previous session. S&P 500 futures and Nasdaq 100 futures climbed 0.9% and 1.6%, respectively. Futures tied to the Dow Jones Industrial Average rose by 303 points, or 0.6%.

S&P 500 futures were relatively unchanged on Wednesday as oil prices rose and traders awaited the latest monetary policy decision from the Federal Reserve. Futures tied to the broad market index climbed 0.1%, while Nasdaq-100 futures gained 0.6%. Dow Jones Industrial Average futures traded down 24 points, or 0.1%.

U.S. equity futures gained on Thursday, boosted by a rebound in chip stocks after recent pressure, but those gains were capped as oil prices rose as U.S.-Iran tensions ramped up. S&P 500 futures gained 0.3%, and Nasdaq 100 futures added 0.6%. Futures tied to the Dow Jones Industrial Average rose 184 points, or 0.4%.

Nasdaq and S&P 500 futures were higher early Monday as chip stocks rebounded from Friday’s rout and President Donald Trump tried to maintain a fragile ceasefire despite Iran and Israel trading strikes. S&P 500 futures and Nasdaq 100 futures were up 0.8% and 1.6%, respectively. Futures tied to the Dow rose 135 points, or 0.3%.

S&P 500 futures fell Thursday as traders dumped chip stocks following an underwhelming report from Broadcom, while they also monitored the latest developments in the Middle East. Futures tied to the broad market index fell by 0.4%, while Nasdaq 100 futures shed 1.1%. Dow Jones Industrial Average futures, on the other hand, traded 226 points higher, or 0.4%.

U.S. stock futures were little changed Wednesday after all three major indexes closed at fresh records during the regular session. Futures for S&P 500 futures and Nasdaq 100 traded down 0.1% and up 0.2%, respectively, while futures tied to the Dow Jones Industrial Average lost 123 points, or 0.3%.

Dow Jones Industrial Average futures fell on Tuesday, with traders digesting a move to fresh all-time highs while monitoring the latest U.S.-Iran developments as well as moves in major tech names. Futures tied to the blue-chip index lost 210 points, or 0.4%. S&P 500 futures slipped 0.2%, while Nasdaq 100 futures shed 0.1%.

Stock futures advanced on Monday as Wall Street looked to kick off June on a strong note, and Nvidia led tech higher following the launch of a new chip for PCs. Futures tied to the Dow Jones Industrial Average added 257 points, or 0.5%. S&P 500 and Nasdaq-100 futures rose 0.3% and 0.2%, respectively.

Stock futures inched higher Friday, while crude prices slipped, as traders monitored the conflict in the Middle East and the fragile ceasefire between Iran and the U.S. S&P 500 futures and Nasdaq 100 futures rose 0.1%. Futures tied to the Dow Jones Industrial Average were up 81 points, or 0.2%.