Investing.com-- U.S. stock index futures rose slightly in evening deals on Tuesday, tracking a positive session on Wall Street as technology stocks advanced ahead of earnings from market darling Nvidia.
Positive earnings from retail giant Walmart Inc (NYSE:WMT) also helped lift sentiment, with shares of the supermarket operator hitting a record high after it raised its annual guidance.
Markets largely looked past an escalation in the Russia-Ukraine conflict after Moscow lowered the threshold for launching a nuclear strike. This was after the U.S. approved the use of long-range missiles for Ukraine against Russia.
S&P 500 Futures rose 0.1% to 5,943.75 points, while Nasdaq 100 Futures rose 0.1% to 20,777.75 points by 18:26 ET (23:26 GMT). Dow Jones Futures rose 0.1% to 43,448.0 points.
Nvidia rises ahead of earnings, tech upbeat
Technology stocks advanced on Tuesday, led by a nearly 5% rally in NVIDIA Corporation (NASDAQ:NVDA) before its quarterly earnings, which are due after the bell on Wednesday. The stock rose 0.3% in aftermarket trade.
The chipmaker, which recently overtook Apple Inc (NASDAQ:AAPL) to become the most valuable listed company in the world, is considered as a bellwether for artificial intelligence demand.
Technology stocks were mostly upbeat in anticipation of a strong quarterly print from the firm, which has nearly tripled in value this year on an AI-fueled boom.
Gains in Nvidia spilled over into broader tech stocks on Tuesday. Alphabet Inc (NASDAQ:GOOGL) rose 1.6% during the session even as a report said the Department of Justice planned to pressure the firm into spinning off its Chrome internet browser, over antitrust concerns.
Among other stocks, Comcast Corp (NASDAQ:CMCSA) rose 2.3% in aftermarket trade after The Wall Street Journal reported the firm was close to approving a $7 billion spinoff of its cable TV assets.
Wall St close to record highs
Wall Street indexes rose on Tuesday and remained in sight of recent record highs, although risk appetite appeared to be cooling after Donald Trump’s election victory earlier in November.
Investors were now watching for just what Trump’s policies and cabinet picks will entail for the economy, amid some concerns that his policies will spur a long term pick-up in inflation.
Still, investors largely maintained bets that interest rates will fall in the near-term, with traders pricing in a 60.6% chance for a 25 basis point cut by the Federal Reserve in December, CME Fedwatch showed.
The S&P 500 rose 0.4% to 5,916.98 points, while the NASDAQ Composite surged 1% to 18,983.43 points on Tuesday. The Dow Jones Industrial Average lagged, falling 0.3% to 43,268.94 points.