U.S. stock futures were rising early Tuesday as investors reacted to the White House’s approval to resume sales of Nvidia’s (NVDA) H200 AI chips to China. Meanwhile, traders are closely monitoring the two-day Federal Open Market Committee (FOMC) meeting that begins today, where the Fed will make its final interest rate decision of the year.
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Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.12%, 0.11%, and 0.05%, respectively, at 3:13 a.m. EST on December 9.
During Monday’s regular trading session, all three major indexes closed lower. The Dow Jones fell by 0.45%, the S&P 500 dropped 0.35%, and the Nasdaq decreased by 0.14%.
Technology stocks rebounded following the White House’s decision to relax export restrictions on Nvidia chips. Shares of Nvidia and Advanced Micro Devices (AMD) gained on the news. Meanwhile, Broadcom (AVGO) and Microsoft (MSFT) shares jumped after the latter announced it is exploring the possibility of creating custom chips in partnership with Broadcom.
Turning to economic reports, investors will focus on the delayed October JOLTs Job Openings data and the NFIB Small Business Optimism Index, both scheduled for release today.
On the earnings front, companies including AeroVironment (AVAV), AutoZone (AZO), and GameStop (GME) will report their results today.
Notably, the U.S. 10-year Treasury yield was up, floating near 4.17%. WTI crude oil futures were trending lower, hovering near $58.78 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price decreased to nearly $4,182 per ounce on Tuesday.
Elsewhere, in Europe, markets opened mixed on Tuesday as investors awaited the Federal Reserve’s interest rate decision, which may influence policy moves by regional central banks. Experts are increasingly expecting a 25-basis point rate cut.
Asia-Pacific Markets Trade Lower
Asia-Pacific markets traded mostly lower, tracking Wall Street’s losses.
Hong Kong’s Hang Seng Index fell 1.44%. In China, the Shanghai Composite dropped 0.37% and the Shenzhen Component lost 0.72%. Meanwhile, Japan’s Nikkei gained 0.14%, and the Topix rose 0.02%.
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