U.S. stock futures are higher in premarket trading after a rally in chip stocks boosted equities on Monday.

The tech-heavy Nasdaq-100 (NDX) jumped 1.58% yesterday as the Index clawed back some of their losses from last week’s tech rout.

A more than 2% drop in oil prices is lending support to stocks this morning; Iran and Israel called a halt to hostilities while leaving the door open to possible resumption of attacks. President Donald Trump said Tuesday that the U.S. and Iran could, within “two or three days,” reach a deal to end the war that “will not in any way allow nuclear weapons,” according to reports.

On the corporate front, investors were underwhelmed with Apple (AAPL) announcements at the first day of its World-wide Developers Conference, and shares are extending Monday’s nearly 2% decline.

Snapshot (as of 8 AM ET)

• Oil (/CL) – Oil futures prices are down more than 2% to $89.27
• Gold (/GC) – Gold futures are flat at 4,367.1
• Bitcoin (/BTC) – The cryptocurrency futures are down nearly 1% to 62,955
• VIX – The CBOE Volatility Index is down more than 4% to 18.09
• U.S. Dollar (/DX) – The dollar index is down 0.34% to 99.705

Biggest Premarket Movers (as of 8 AM ET)

Advancers:

• Micron Technology (MU) 4.93%
• SanDisk (SNDK) 4.02%
• Jabil (JBL) 3.59%
• Corning (GLW) 3.30%
• Seagate Technology (STX) 3.11%

Decliners:

• ServiceNow (NOW) -1.35%
• Simon Property Group (SPG) -1.09%
• Coinbase Global (COIN) -0.83%
• CF Industries (CF) -0.82%
• Workday (WDAY) -0.81%

Economic Data (ET)

• 6:00 AM: NFIB Small Business Optimism Index
• 8:30 AM: International Trade in Goods/Services
• 10:00 AM: Existing Home Sales
• 1:00 PM: 3-Year Note Auction

Notable Earnings

• Premarket: Academy Sports (ASO), Designer Brands (DBI), EHang Holdings (EH), J.M. Smucker (SJM), Lands’ End (LE), SailPoint (SAIL), Titan America (TTAN), United Natural Foods (UNFI), Uranium Energy (UEC)
• Postmarket: Casey’s (CASY), Cracker Barrel (CBRL), Domo (DOMO), Limoneira (LMNR)
• Premarket Tomorrow: Chewy (CHWY), Core & Main (CNM)
• Postmarket Tomorrow: Oracle (ORCL), Oxford Industries (OXM), Stitch Fix (SFIX)

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