US stock futures were treading water on Tuesday as cautious investors weighed Nvidia's (NVDA) big AI plans and confused about tariff prospects, with new jobs data on deck.
Contracts on the S&P 500 () hovering above the flat line, holding close to technology fuel previous session's earnings. Dow Jones Industrial Average Futures () also little change, while those on the tech-heavy Nasdaq 100 () slip into the red.
Buzz around Nvidia CEO Jensen Huang's CES keynote provides a bright spot for markets that are used to tentative moves amid policy uncertainty from the incoming Trump administration.
Shares in Nvidia rose more than 2% in premarket, coming off a record high, after Huang revealed new advanced AI chips among other planned products. Chip stocks extended their rally in its wake, with Micron Technology (IN) up over 5% and Asian names make gains.
At the same time, the watch is on for more clarity on Donald Trump's tariff agenda. The president-elect denied on Monday and Washington Post report that his team is consider more targeted measures – which would be more promising for global growth. The dollar (DX-Y.NYB) continue to come under pressurehas sunk to week lows.
An update on JOLTS job openings in November later in the day will feed into the debate on the path of interest rates, as well as setting the stage for Friday's all important jobs report in December. In recent days, Fed officials have a sign that they would take a more gradual approach to cuts, given job market resilience and continued inflation. There is also a reading on the activity of the US services on the ticket.
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Live stock market coverage for Tuesday, January 7, 2025.