US stock futures edged higher on Tuesday as oil prices fell and Treasury yields eased from recent highs. Chip stocks recovered in premarket trading, while investors awaited US jobs and inflation data for clues about the Federal Reserve’s next rate decision.
At 8:45 a.m. ET, Dow Jones Industrial Average futures were up 0.17%, S&P 500 futures rose 0.14%, and NASDAQ 100 futures gained 0.28%. The gains followed a weaker session on Monday, when rising oil prices and Treasury yields weighed on stocks. The S&P 500 recorded its largest one-day percentage decline since late August.
The latest premarket moves remained small, and futures can change before regular trading begins. Traders continued to weigh the cost of energy and borrowing against a recovery in some chip stocks. They were also watching for news on the war with Iran, which has disrupted oil shipments from the Middle East.
Brent crude futures fell more than 1% on Tuesday as attention turned to signs of stronger oil exports from the Gulf. The decline followed Monday’s rise in crude prices after President Donald Trump rejected an Iranian proposal linked to reopening the Strait of Hormuz. Oil prices remained elevated even after Tuesday’s pullback.
The pause in oil’s rise coincided with a modest easing in Treasury yields. The benchmark 10-year yield closed Monday at 5.241%, its highest close since 2007. It climbed above 5.26% early Tuesday before falling back. One later morning reading put the yield near 5.220%, while the 30-year yield was around 5.542%. Yields move in the opposite direction from bond prices.
The levels kept borrowing costs in focus. Higher yields can raise financing costs for companies and households, while expensive oil can add to inflation. Australia’s central bank raised its interest rate to a 15-year high on Tuesday. In the US, traders were looking to upcoming economic reports for clues about the Federal Reserve’s next move.
Several chipmakers rose after Monday’s sector-wide selloff. Marvell Technology, Micron Technology and Broadcom each gained about 1% before the opening bell. NVIDIA advanced 0.7% after adding USD 150 billion to its share repurchase authorization on Monday.
Investors also assessed an Anthropic prospectus seen by Reuters for a possible public offering. It showed rapid growth alongside wider losses, while the AI company is targeting a valuation of more than USD 2 trillion. That figure is a proposed valuation, not the price of a completed listing. Separately, investors were due to hear from OpenAI CEO Sam Altman at the company’s DevDay event later Tuesday.
The August job openings report and the Conference Board’s consumer confidence reading were due Tuesday. Inflation and employment figures later in the week were also on the calendar. At least six Federal Reserve officials, including New York Fed President John Williams, were scheduled to speak during the day.
Among individual stocks, Summit Therapeutics rose about 20% in premarket trading. AstraZeneca said it would invest USD 2 billion in the company, and the two drugmakers plan to study their cancer treatments together. PepsiCo fell 1.1% after JPMorgan cut its rating from overweight to neutral. CarMax also gained before the open following its quarterly results.
