Stock futures pointed higher Tuesday after Nvidia said it would restart some chip sales to China and investors awaited earnings reports from some of the biggest U.S. banks and a key inflation reading.
These stocks were poised to make moves Tuesday:
NVIDIA was rising 5% after the chip maker said it soon expects to again begin selling its H20 AI chip in China. Nvidia said Monday the U.S. government has assured the leading maker of artificial-intelligence chips that it will approve its license applications to sell the H20 to China. The Trump administration in April effectively banned Nvidia from selling H20 chips to China by tightening chip export licensing requirements to the country. Fellow chip maker Advanced Micro Devices was up 5%, while Broadcom rose 1.5%.
Trade Desk Inc. soared 15% after the company, which provides a platform for advertising buyers, was added to the S&P 500 index. Prior to the opening of trading on Friday, Trade Desk will replace Ansys, which is being purchased by Synopsys, according to S&P Dow Jones Indices.
Two companies that investors had hoped would be added to the benchmark index, Robinhood and AppLovin Corporation, fell 0.9% and 1.7%, respectively.
JPMorgan Chase is expected by analysts to report second-quarter earnings of $4.48 a share on revenue of $43.8 billion. A year earlier, the bank reported adjusted profit of $4.40 a share on revenue of $50.2 billion. Wall Street expects net interest income of $23.6 billion versus $22.9 billion in the second quarter of 2024. The stock, which coming into Tuesday has risen 20% this year, rose 0.7% in premarket trading.
Wells Fargo was down slightly in premarket trading ahead of second-quarter earnings from the San Francisco bank. Wall Street expects Wells Fargo to post a profit of $1.41 a share, up from $1.33 a year earlier, on revenue of $20.75 billion. Wells Fargo shares have gained 19% in 2025.
Citigroup rose 1% in the premarket session. The New York bank is expected by analysts to post earnings in the second quarter of $1.61 a share. The stock has risen 24% this year.
Earnings reports are also expected Tuesday from Bank Of New York Mellon, State Street, J.B. Hunt Transport Services, and Omnicom.