US stock futures traded in mixed territory on Tuesday as pressure on chip stocks and a stalling AI rebound dampened early market sentiment.
Futures for the Dow Jones Industrial Average (^YM=F) edged up 0.1%, while S&P 500 (^ES=F) futures slipped 0.1% in early trading.
Contracts for the Nasdaq 100 (^NQ=F) declined 0.5%, reversing some of Monday’s gains when tech stocks posted a broad rebound across major averages.
A buy-the-dip rally in artificial intelligence stocks lost momentum after South Korean data center provider Elice (0158S0.KQ) made its public debut on the Seoul stock exchange.
Elice shares plunged 32% on their first day of trading, reigniting concerns among investors about the underlying strength and sustainability of the broader AI trade.
The troubled debut served as a reality check for markets that had been building optimism around AI infrastructure spending and the neocloud sector in recent weeks.
Investor attention is now shifting toward a packed corporate earnings calendar, with General Motors (GM) set to report results before Tuesday’s market open.
United Airlines (UAL) is scheduled to post its quarterly figures after the closing bell on Tuesday, adding further data points for markets to digest.
Streaming giant Netflix (NFLX) will also report earnings after the bell on Tuesday, while electric vehicle maker Tesla (TSLA) and social media company Meta Platforms (META) are both expected to release results on Wednesday.
On the economic front, housing starts and pending home sales data are due Tuesday, offering investors a fresh look at the health of the American real estate market.
Oil markets were broadly steady, with Brent crude futures (BZ=F) holding at $109 per barrel and West Texas Intermediate crude (CL=F) trading near $98 per barrel.
Adding to the week’s policy backdrop, President Trump announced an $8 billion aid package on Monday to help American farmers cover diesel costs during the current harvest season.
The relief program was announced at a campaign rally in Kansas and simultaneously posted to Truth Social (DJT), framing it as direct support ahead of next month’s midterm elections.
Trump’s account posted: “Tonight, I am also pleased to announce that the Department of Agriculture will be launching a new ‘Harvest Fuel Relief Program,’ providing our Farmers with 8 BILLION DOLLARS in support to offset Diesel costs during this Harvest Season.”
