On Tuesday, Nasdaq futures exhibited minimal fluctuations following President Donald Trump’s authorization of restricted sales of Nvidia H200 AI chips to China, coinciding with the commencement of the two-day Federal Reserve meeting regarding interest rates. Futures linked to the blue-chip Dow Jones Industrial Average and the benchmark S&P 500 remained largely unchanged, whereas those connected to the tech-heavy Nasdaq declined by 0.1%. Yesterday, the three major indexes concluded the trading session in the red, following a week where they approached all-time highs. Investors anticipate that officials will reduce their policy rate by a quarter percentage point tomorrow, as indicated by reports, which shows that financial markets are assigning a nearly 90% probability to the central bank cutting its key rate to a range of 3.5% to 3.75%.
Market participants will be closely monitoring the postponed publication of the October job openings and labor turnover survey, scheduled for 10 a.m. on Tuesday. The 10-year Treasury yield, a key determinant of interest rates across various commercial and consumer loans, remained relatively stable from Monday’s closing level at approximately 4.17%. Bitcoin was trading at approximately $90,700, experiencing a minor decline from the overnight peak of around $91,400. The U.S. dollar index, which measures the value of the greenback relative to a selection of foreign currencies, remained relatively stable at 99.15. Gold futures increased by 0.4% to $4,235 per ounce, whereas West Texas Intermediate futures, the benchmark for U.S. crude oil, declined to $58.80 per barrel.
Shares of Nvidia, the world’s most valuable company by market capitalization at around $4.5 trillion, edged higher before the bell after President Trump stated that the U.S. will permit the firm to ship its H200 chips to “approved customers” in China and other countries. Alphabet stock slipped less than 1% following the European Commission’s initiation of an investigation into whether its Google unit violated EU competition regulations by utilizing web publishers’ content for AI applications. Home Depot shares fell 2.5% after providing preliminary fiscal 2026 projections that were below analysts’ expectations, while CVS Health stock rose 2.5% following the company’s increase in its full-year guidance.
Shares of Paramount Skydance and Warner Bros. Discovery, which closed up a respective 9% and 4.5% Monday after Paramount launched a hostile takeover for WBD, both rose roughly 1% further in premarket trading. WBD, the storied movie studio and HBO Max streaming service operator, on Friday had agreed to be acquired by Netflix for $83 billion, but President Trump remarked on Sunday that Netflix’s deal “could be a problem.” Netflix shares experienced a modest increase following a decline of approximately 3.5% the previous day.