US Futures Extend Rebound

US stock futures swung higher on Tuesday as energy prices halted their rebound and AI infrastructure extended its rebound. Contracts attached to the S&P 500 and Nasdaq 100 were around 0.5% higher, while the Dow advanced 150 points. Oil and fuel prices eased as Iran and Israel held off from exchanging fire since their weekend operations, allowing for more negotiations between Tehran and Washington for a potential agreement that restores energy exports. Equities were supported by a rebound for Treasuries as markets gauged whether the Fed will deliver a rate hike this year. Pressure on fixed-income will be tested again tomorrow with May’s inflation rate, set to rise further. Meanwhile, chips and datacenter stocks extended their rebound from yesterday after Friday’s plunge. OpenAI confidentially filed for an IPO and Anthropic raised more cash, pointing to more spending on AI infrastructure. Nvidia and Micron were higher premarket, and Oracle gained 1% ahead of earnings this week.

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