Stock Futures Rise Ahead of Nvidia Earnings and PCE Data

U.S. stock futures moved higher Tuesday as Treasury yields slipped for a second straight session and investors positioned for Nvidia's earnings report due after the bell Wednesday. The moves came against a backdrop of fresh government steps to influence the bond market and new trade tensions with Canada and Iran.

Futures tied to the Dow Jones Industrial Average rose about 0.4 percent, while those for the S&P 500 gained a similar amount. Nasdaq 100 contracts 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 tap its roughly one trillion dollar General Account to fund increased bond purchases. That plan follows earlier signals from Washington aimed at containing longer-term borrowing costs.

Chip stocks led the rebound, with shares of Advanced Micro Devices and Micron Technology each up more than 2 percent. Intel gained over 3 percent. The moves reflected optimism ahead of Nvidia's results and broader hopes that artificial intelligence spending will continue to drive growth. Still, Monday's session showed how quickly sentiment can shift when yields rise and pressure technology valuations.

Traders also watched developments on the trade front. The administration announced new sanctions targeting countries that continue dealing with Iran, with Treasury Secretary Scott Bessent warning that continued dollar-based transactions could face restrictions. Canada, meanwhile, prepared its response to proposed 50 percent U.S. tariffs on vehicles and auto parts. Such measures add uncertainty for manufacturers already navigating supply chains strained by prior policy shifts.

Bitcoin crossed above 80,000 dollars for the first time since May, extending a rally that has gained more than 20 percent in the past week. Some analysts linked the surge to concerns that Treasury interventions and potential dollar weakening could erode the currency's value over time. Gold prices have also firmed in recent sessions, though they paused Tuesday.

Economic data scheduled for release this week will set the stage for Federal Reserve Chairman Kevin Warsh's speech at the Jackson Hole symposium on Friday. The personal consumption expenditures price index for July arrives Wednesday, offering the latest read on inflation trends. New home sales, ADP employment figures, and manufacturing data drop Tuesday. Markets remain sensitive to any signs that price pressures are reaccelerating, especially after the recent bond market volatility.

Software companies Intuit and Zoom report earnings later Tuesday, while Dick's Sporting Goods shares dropped sharply after the retailer missed expectations and lowered its outlook. Broader participation in the rally has been uneven, with smaller companies showing more modest gains than the megacap names.

Investors continue to weigh whether the Treasury's bond market moves represent a temporary adjustment or the start of deeper efforts to manage yields. Past rounds of heavy official involvement in fixed income have often carried longer-term consequences for savers and pension funds that rely on steady returns. With Nvidia's results and the inflation reading still ahead, Tuesday's futures bounce offered only a partial reprieve from the pressures that have kept markets on edge.