NextFin News - U.S. equity futures are higher in early trading, led by a technology rebound and renewed buying in chip shares, while oil is pulling back as traders reassess Middle East risk. The Nasdaq 100 is leading the pre-market advance, with European trading mixed and the dollar slightly softer.
1) Pre-Market Performance
- Nasdaq 100 futures: 29,686.3, up 231.5 points, or +0.79%.
- S&P 500 futures: 7,444.3, up 28.3 points, or +0.38%.
- Dow Jones futures: 50,925, up 69 points, or +0.14%.
- U.K. FTSE 100: 10,342.44, down 30.76 points, or -0.30%; intraday range 10,314.02 to 10,372.77.
- France CAC 40: 8,264.00, up 64.71 points, or +0.79%; intraday high 8,284.01.
- Germany DAX: 24,721.67, up 105.45 points, or +0.43%; intraday high 24,820.95.
- Crude oil: WTI futures were indicated near $88.98, down about 2.5%, while Brent was near $92.24, down about 2.1%, as Middle East ceasefire hopes reduced part of the geopolitical premium.
- Gold: spot gold was around $4,340.62 per ounce, up 0.53%, stabilizing after a recent pullback.
- U.S. dollar: the dollar index was around 99.88, down 0.12%, while EUR/USD traded near 1.1574, up about 0.40%.
2) Hot News
- Chip rebound leads U.S. futures higher: Nasdaq futures are outperforming as investors rotate back into semiconductor names after last week’s sharp selloff. Marvell Technology, Broadcom and Micron were among the chip stocks rising in pre-market trading, helping stabilize risk appetite.
- Oil retreats as ceasefire hopes cool the risk premium: Crude prices fell more than 2% in early trading after Iran and Israel said they had halted attacks following a U.S. appeal. The pullback is easing pressure on inflation-sensitive areas of the market, though traders remain cautious because the Strait of Hormuz has not fully normalized.
- Gold steadies after recent weakness: Gold is holding near $4,340 per ounce as lower oil prices reduce immediate inflation fears, while investors continue to weigh rate-sensitive positioning. Silver, platinum and palladium also traded firmer in early global dealings.
- Dollar slips as haven demand eases: The dollar index moved lower as traders priced in a modest improvement in geopolitical risk. The euro and other major currencies strengthened, while the yen remained under pressure near closely watched levels.
3) U.S. Stock Focus
- Nvidia — Chip rebound extends into pre-market: Nvidia traded near $209.25, up 0.29%, with pre-market volume around 2.43 million shares. The stock remains a key driver of Nasdaq futures as investors buy into the semiconductor rebound after last week’s AI-led selloff.
- Nebius and Nvidia — Physical AI lab launched for robotics startups: Nebius announced a six-month Physical AI Living Lab for U.K. and European robotics startups built with Nvidia technologies, giving startups access to simulation, synthetic data and accelerated-computing tools.
- Micron Technology — Memory stock leads pre-market gainers: Micron traded near $995.76, up 4.90%, with pre-market volume around 2.39 million shares, reflecting renewed demand for AI-linked memory exposure.
- Intel — Heavy pre-market volume as chip buying broadens: Intel traded near $113.19, up 2.65%, on pre-market volume of roughly 3.17 million shares, participating in the broader semiconductor recovery.
- Oracle — BofA raises price target to $240 ahead of earnings: BofA lifted its Oracle price target to $240 from $200 while keeping a Buy rating, citing robust demand across cloud infrastructure and database workloads. Oracle traded near $215.45 in pre-market activity, up 1.71%.
- Nuvalent — GSK agrees to $10.6 billion acquisition: GSK agreed to buy U.S.-listed cancer drug developer Nuvalent for $10.6 billion, strengthening its lung-cancer portfolio. Nuvalent shares surged nearly 40% in pre-market trading after the deal valued the company at about $124 per share.
- Applied Digital — $5.2 billion AI-campus lease boosts shares: Applied Digital signed a 15-year, 210 MW take-or-pay lease at its Delta Forge 2 AI Factory campus with a U.S. investment-grade hyperscaler. The base-term contract is expected to generate about $5.2 billion in revenue, and the stock rose sharply in pre-market trading.
- FuelCell Energy — Canaccord upgrade highlights data-center opportunity: FuelCell Energy rose after Canaccord upgraded the stock, citing potential for the company to serve data-center power demand. The upgrade followed the company’s recent Q2 revenue report of $35.6 million, down 5% year over year.
- Apple — WWDC reaction remains mixed after Siri AI unveiling: Apple traded near $299.60 in pre-market activity, down 0.64%, after unveiling a revamped Siri AI and software updates at WWDC. Investors are weighing whether the fall beta release and regional rollout limitations can translate into a stronger iPhone and services upgrade cycle.
- J.M. Smucker — Fiscal Q4 earnings in focus: J.M. Smucker is scheduled to report fiscal fourth-quarter results before the open, with consensus estimates near $2.65 in EPS and $2.26 billion in revenue. Investors will watch coffee margins, pet-food trends and Hostess integration commentary for signs of earnings momentum into fiscal 2027.
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