Stock Futures Rise Ahead of Nvidia Earnings and PCE Data
Cover image from cnbc.com, which was analyzed for this article
US stock futures climbed as tech shares rebounded before Nvidia's earnings report and key inflation data. Investors are focused on AI sentiment and corporate results amid broader market volatility.
PoliticalOS
Tuesday, August 25, 2026 — Business
Markets are pricing Nvidia's results and the PCE inflation print as the immediate tests for whether the AI rally can extend despite elevated yields and fresh sanctions. Futures gains reflect positioning rather than resolution of those questions.
What outlets missed
Most coverage omitted the precise scale of the software-versus-chip performance gap, with equal-weighted software ETFs up roughly 24 percent since late June while equal-weighted semiconductor ETFs fell a similar amount. Few outlets detailed the six straight days of inflows into the largest bitcoin ETF or the exact size of the Treasury General Account cited as a potential source of bond purchases. The muted market reaction to Iran sanctions was noted but rarely connected to analyst views that the measures were framed as negotiation leverage rather than escalation. Dick's Sporting Goods' specific guidance cuts, including the revised earnings-per-share range of $10.94 to $11.94, received limited follow-through beyond the initial share-price reaction.
US stock futures advanced Tuesday as investors positioned for Nvidia's earnings release and the July personal consumption expenditures reading, both due Wednesday. The moves followed a session in which the S&P 500 fell 0.28 percent and the Nasdaq Composite dropped 0.76 percent.
Dow Jones Industrial Average futures rose 199 points, or 0.4 percent. S&P 500 futures gained 0.4 percent and Nasdaq-100 futures climbed 0.8 percent. The 10-year Treasury yield fell more than three basis points to 4.666 percent after reports that the Treasury Department may use its roughly $1 trillion General Account to increase bond purchases.
Nvidia is scheduled to report results after Wednesday's close. Chip stocks including Advanced Micro Devices, Micron Technology and Intel rose more than 2 percent in premarket trading. Software earnings from Intuit and Zoom Communications are also due Tuesday.
Bitcoin crossed above $80,000 for the first time since May, according to The Wall Street Journal, extending a rally fueled in part by six consecutive days of inflows into the iShares Bitcoin ETF. Gold prices reached their highest level in more than three months.
Treasury Secretary Scott Bessent announced expanded secondary sanctions targeting Iran's economic ties, with countries continuing to trade with Tehran facing potential exclusion from the dollar-based financial system. Oil prices were little changed, with Brent crude near $92 a barrel.
Separately, the White House said it would impose 50 percent tariffs on Canadian vehicles and auto parts beginning in January. Canada's government is expected to announce retaliatory measures Tuesday. Asian benchmarks closed mostly higher, with Japan's Nikkei 225 up 0.5 percent and South Korea's Kospi gaining 0.68 percent. Europe's Stoxx 600 rose 0.3 percent.
Federal Reserve Chair Kevin Warsh is set to speak at the Jackson Hole symposium on Friday. Money-market pricing implies one 25-basis-point rate increase by year-end, according to LSEG data. Dick's Sporting Goods shares fell 14 percent in premarket trading after the retailer missed revenue estimates and lowered full-year guidance.
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