US Stock Futures Rise as Chip Stocks Extend Recovery
Nasdaq futures led gains on Tuesday as chipmakers Marvell and Broadcom rebounded from recent selling pressure. Sentiment improved following reports of a ceasefire between Iran and Israel, while investors await upcoming consumer price data for clues on the Federal Reserve interest rate path.
United States stock index futures rose on Tuesday morning as chip stocks extended gains and easing Middle East hostilities aided sentiment. Nasdaq 100 e-minis led the advance with a 224.75 point or 0.76% increase, while S&P 500 e-minis climbed 34.5 points or 0.47%. Dow e-minis rose 138 points, or 0.27%, as markets rebounded from a period of sharp selling pressure in the technology sector.
### Tech Rebound Led by Semiconductors Chip stocks extended their recovery for a second day following a sharp selloff on Friday that was fueled by a disappointing forecast from Broadcom Inc which triggered valuation concerns. Shares of Broadcom Inc and Marvell Technology Inc rose between 1.1% and 4.1% in early trading, while Micron Technology Inc gained 4.1% premarket.
