U.S. stock futures pointed to a higher open Tuesday, clawing back some of Monday's losses as a robust chip-sector bounce in Asia lifted risk appetite ahead of a busy corporate earnings docket. While the US has now carried out 10 consecutive nights of strikes on Iran, reports that mediators are pushing for a 10-day ceasefire helped ease oil prices in early Tuesday trading after Monday's rally. But since then crude prices have turned mixed.
The rebound in stock futures follows a losing session on Wall Street. The Dow Jones shed 307.16 points, or 0.59%, to 51,839.26 as investors weighed the blockade threat and elevated crude, while the S&P 500 slipped 0.19% to 7,443.28 and the Nasdaq eased 0.05% to 25,508.07.
Earnings Backdrop
Tuesday's premarket bid comes as the second-quarter reporting cycle intensifies. FactSet raised its earnings growth estimate to 24.7% for S&P 500 companies, with about 15% of S&P 500 firms reporting this week including General Motors, IBM, and Tesla.
Premarket Snapshot — July 21, 2026
| Instrument | Level | Change |
|---|---|---|
| S&P 500 futures (ES) | 7,421.00 | +0.49% |
| Nasdaq 100 futures (NQ) | 29,193.00 | +1.44% |
| Dow futures (YM) | 52,258.00 | +0.36% |
| US 10-year yield | 4.59% | down marginally |
| WTI crude (Sep) | $82.71/bbl | +0.28% |
| Brent crude | $89.15/bbl | -0.08% |
| Gold futures | $4,070.80/oz | +1.37% |
| Dollar index (DXY) | 100.91 | -0.04% |
| Cboe VIX | 17.63 | -5.47% |
| Bitcoin | $66,331.56 | +3.26% |
US Stocks in Focus
Semiconductors and AI-linked names were among the most active in Tuesday's premarket, extending an overnight rally in Asian tech.
- Alphabet (GOOGL): In focus ahead of results on Wednesday, with traders watching for capex guidance after last week's chip-sector selloff.
- Tesla (TSLA): Trading actively in premarket ahead of Wednesday's earnings. Tesla delivered 480,126 vehicles in the second quarter — 467,762 Model 3 and Model Y units, plus 12,364 across other models — comfortably clearing most estimates.
- Northrop Grumman (NOC): Moving in premarket ahead of its Q2 print. Northrop Grumman is set to release Q2 earnings on July 21, with an expected decrease in EPS.
- General Motors (GM), Philip Morris (PM): Active ahead of pre-open Q2 results, with the consumer and auto majors setting the tone for the reporting cycle.
- Alibaba (BABA): reversing course in premarket after US-listed shares of the Chinese technology company rose more than 3% after it previewed a new powerful artificial intelligence model, Qwen3.8 Max, with the company saying it is only second to AI giant Anthropic's Fable 5 model.
- Hut 8 Corp (HUT): Continuing its momentum after the energy infrastructure company popped 12% after it signed a 15-year lease with an existing customer, fully commercializing its 1 gigawatt Beacon Point data center in Texas, with the agreement totaling $9.8 billion.
- Cracker Barrel (CBRL): Extending an after-hours pop. Cracker Barrel Old Country Store shares rose 9% in after-hours trading Monday after the restaurant chain announced strategic actions to rein in costs and increased its 2026 profit outlook.
Asian Markets: AI Names Lead Rebound Tuesday
Asian equities set a constructive tone for the U.S. open. Asian shares mostly gained on Tuesday, with markets in South Korea, Japan and Taiwan — all heavily weighted with tech stocks — ended notably higher, after recent declines due to heavy selling of stocks linked to artificial intelligence.
South Korea's Kospi, which is heavily reliant on AI and chipmaking-related shares, jumped 3.56% to 6,747.95 after falling 4.5% a day earlier. The Kospi has gained more than 50% so far this year, but fell more than 20% over the past month as investors sold to lock in profits, wary of worries about a potential bubble in AI investments.
Tokyo's Nikkei 225 added 3.26% to 66,232.19 after a holiday. The Shanghai Composite adding 1.79%, while Hong Kong's Hang Seng edged down 0.04%.
Oil, Geopolitics Still in Frame
Crude continued to be volatile, even as signs of renewed diplomatic efforts between the U.S. and Iran eased some supply concerns, with Iran's Foreign Ministry saying it had received proposals from international mediators aimed at reducing tensions and negotiations with the United States could continue if they serve the country's national interests.
