Wall Street futures were largely steady on Tuesday as investors paused after a strong technology-led rally and turned their attention to developments in the Middle East and upcoming diplomatic talks.
Dow Jones futures were up 0.21%, while S&P 500 futures gained 0.03% and Nasdaq 100 futures rose 0.05% in early trading. The moves followed a strong session on Monday that pushed the Nasdaq to a record high.
Investors are closely monitoring expected talks between the United States and Iran on the sidelines of the United Nations General Assembly. Any progress could ease concerns about disruptions to energy supplies and reduce some of the uncertainty weighing on global markets.
Brent crude fell 1.6% but remained close to $100 a barrel, while the yield on the benchmark 10-year US Treasury note stood at about 4.9%. Both oil prices and Treasury yields remain important indicators for investors because of their implications for inflation and borrowing costs.
The AI sector remained in focus following Monday’s rally, which was driven partly by an 11.3% jump in Meta shares. However, some major chipmakers, including Nvidia, TSMC and SK Hynix, slipped in premarket trading.
Markets are also awaiting a planned US-China summit later in the week, with investors watching for developments on trade relations.
Meanwhile, traders see a 50.9% probability of another Federal Reserve interest-rate increase of at least 25 basis points in October, according to CME Group’s FedWatch Tool.
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