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US Equity Futures Higher Pre-Bell as Tech Stocks Bounce Back From Selloff

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US equity futures were edging higher pre-bell Tuesday as technology-related stocks bounced back from a selloff in the previous session.

Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.9% higher.

In a scheduled announcement of new economic sanctions against Iran, US Treasury Secretary Scott Bessent said in a statement that other countries would need to stop doing business with the Middle Eastern nation or risk being cut out of the dollar-based financial system. He did not identify the countries involved but added that they have a defined timeline to comply with the new directive.

Traders digested the latest round of earnings, with Bank of Montreal (BMO) reporting higher fiscal Q3 adjusted earnings and revenue.

Intuit (INTU) is expected to report its fiscal Q4 earnings after the market closes. Analysts polled by FactSet expect adjusted earnings of $3.58 per share on revenue of $4.27 billion.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.8% at $88.03 per barrel and US West Texas Intermediate crude 3.2% lower at $82.26 per barrel.

The June S&P Case-Shiller home price index is scheduled for release at 9 am ET. The August consumer confidence index, due at 10 am ET, is projected to drop to 90.2 from 90.8, according to estimates compiled by Bloomberg. July new home sales are seen at a 620,000 annual rate, down from 628,000 previously. The Richmond Fed manufacturing index for August is also scheduled to be released at 10 am ET.

Federal Reserve Richmond President Thomas Barkin is slated to speak on Tuesday.

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US Equity Markets Mixed as Crude Oil Prices Drop Ahead of Upcoming US Economic Sanctions on Iran

US equity indexes were mixed Monday as crude oil prices dropped ahead of US economic sanctions on Iran and as President Donald Trump threatened tariffs on Canada.* The US is set to warn countries to cut ties with Iran or risk their businesses being cut off from the dollar-based financial system when it unveils the "greatest financial offensive ever" on Monday, a source told Reuters.* President Donald Trump said US tariffs on Canadian cars, trucks, auto parts and steel will rise to 50% next year, escalating trade tensions between the two countries after bilateral trade talks collapsed on Friday.* The Chicago Federal Reserve Bank's monthly National Activity Index fell to minus 0.08 in July from 0.06 in June, compared with expectations for a smaller decrease to minus 0.05 in a Bloomberg survey.* October West Texas Intermediate crude oil fell $2.04 to settle at $85.04 per barrel, while October Brent crude, the global benchmark, was last seen down $2.35 at $92.04.* Expedia (EXPE) delivered its fifth consecutive beat and raise in Q2, with full-year guidance raised on all three lines, as the business-to-consumer segment continues to see solid top-line improvement and stronger margin expansion, Wedbush Securities said Thursday. Expedia's stock was up about 5.4%, the top gainer on the S&P 500.* Among companies with market capitalizations exceeding $200 billion, seven of the bottom 10 names were from the semiconductor sector, according to data compiled by Finviz. SanDisk (SNDK) was down nearly 6.5%, the worst performer on the S&P 500 and Nasdaq. Micron Technology (MU) and Western Digital (WDC) were down roughly 5% each.

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Update: US Equity Indexes Mixed as Chipmakers Hit Technology, Bessent Unveils Plans to Choke Iran

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes traded mixed as mega-cap semiconductor names pushed technology to the bottom of sector charts and crude oil declined after Treasury Secretary Scott Bessent unveiled a plan to sever Iran's economic lifelines.The Nasdaq Composite fell 0.7% to 25,999.1, and the S&P 500 declined 0.3% to 7,653.3 ahead of Monday's close. The Dow Jones Industrial Average bucked the intraday trend, rising 0.3% to 53,434.5.Among companies with market capitalizations exceeding $200 billion each, nine of the bottom 10 names by intraday returns were in the technology sector, according to data compiled by Finviz. Of those nine firms, seven were related to the semiconductor industry. Sandisk (SNDK) led the pack of tech decliners, down 7%.Bessent unveiled what he described as an "unprecedented" Washington campaign to sever Tehran from the global economy, warning that any state doing business with the country risks facing US sanctions."... we are launching an economic onslaught against Iran's financial connections around the globe. Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone," Secretary Bessent said Monday.Bessent said the campaign targets five sectors that Treasury identified as vital to Iran's economy: digital assets, technology, gold, aviation and shipping. Iran has condemned US plans to announce new sanctions and vowed to retaliate against any country that supports Washington, as President Masoud Pezeshkian has called for a diplomatic solution.The front-month US West Texas Intermediate crude oil contract retreated 2.1% to $85.25 per barrel, and global benchmark North Sea Brent slumped 2.2% to $92.30 per barrel.Nvidia (NVDA) customers are facing price increases of over 15% on servers equipped with its artificial intelligence chips due to rising memory costs, Bloomberg reported Saturday. Separately, Nvidia is discussing an investment in Perplexity as part of a funding round that would value the AI startup at more than $30 billion, The Information reported Sunday. Nvidia declined 3%, the Dow's worst performer.

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Update: US Equity Indexes Mixed as Chipmakers Push Technology Lower

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