Stock Futures Subdued as Tech Sector Slows; Oil Drops on Iran Strait Report
On Tuesday morning, stock index futures showed muted gains with December S&P 500 E-Mini up +0.05% and Nasdaq 100 down -0.02%, reflecting a cautious market mood as chipmakers paused after strong previous-day performance. The decline in oil prices followed reports that Iran proposed reopening the Strait of Hormuz within seven days if U.S. sanctions are lifted, easing inflation concerns but not boosting equity markets further. In pre-market trading, major tech stocks like AMD and ARM fell about -1%, reversing some gains from a sharp rally on Monday driven by optimism around AI developments at Meta Platforms (META), which surged over +11%. Energy stocks were hit hard as oil prices dropped nearly 2% and Marathon Petroleum lost more than -5%. Market attention is also focused ahead of remarks from several Federal Reserve officials, with rate futures pricing in a near-even chance for another hike. Meanwhile, U.S. President Donald Trump was set to address the UN General Assembly later that day, raising hopes among traders about potential diplomatic progress with Iran.
Topics: chipmakers geopolitical_tensions oil_prices stock_index_futures