S&P 500 index(SPX.US) futures fell on Tuesday, pressured by a rise in Treasury yields amid concerns of persistent inflation and elevated oil prices. A pullback in semiconductor stocks also weighed on the broader market.

Contracts tied to the broad market index fell 0.4%, while NASDAQ-100(NDX.US) futures were down 1.1%. Western Digital Corporation(WDC.US) fell more than 5%, weighing on Nasdaq futures. Sandisk Corporation(SNDK.US) dropped more than 4%. Marvell Technology(MRVL.US) and Seagate Technology Holdings PLC(STX.US) were both down by more than 5%.

Dow Jones Industrial Average(DJI.US) futures traded just 48 points lower, or 0.1%, with losses kept in check in part because of a 1% advance in Home Depot, Inc.(HD.US) shares after the home improvement giant posted a second-quarter earnings beat.

The 30-year Treasury bond yield climbed more than 1 basis point to 5.323%, trading at levels not seen in nearly two decades. The yield on Monday hit its highest level since June 2007.

Yields have been rising of late as investors worry that oil prices could stay elevated, with negotiations between Iran and the U.S. stalling. President Donald Trump said Monday he would attack Oman “if it gets in the way.”

U.S. crude rose on Monday and climbed another 0.7% on Tuesday to trade above $85 per barrel.

“Because of the strength of the AI trade, stocks haven’t cared about the persistent rise in global bond yields but it’s just a matter of when, not if, if this trend in rates continues, which I think it will as a bear on long duration,” said Peter Boockvar, chief investment officer at One Point BFG Wealth Partners.

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As of 04:01 PM Riyadh Time, top pre-market movements are as follows:

Global equity allocation hits 5-year high

Bank of America survey shows investors' global equity exposure at highest since 2021, with most expecting continued economic growth.

Trump Drops Iran Ceasefire Revival

• US President Donald Trump abandons reviving stalled Iran deal, leaving Strait of Hormuz conflict unresolved.
• Trump rejected extending the memorandum of understanding with Iran when asked about US intentions, stating "no" directly.
• US Treasury yields climbed Tuesday as oil prices and US-Iran tension worries boosted long-term rates to 20-year peaks.

Treasury Proposes Stablecoin Rules

US Treasury introduced stablecoin regulatory proposal Monday to implement GENIUS Act, clarifying issuance scope and certainty. (Shares Bitcoin Trust(IBIT.US), iShares Ethereum Trust ETF(ETHA.US))

Home Depot & Toll Brothers In Focus

Home Depot, Inc.(HD.US) and Toll Brothers, Inc.(TOL.US) face Tuesday trading amid housing sector volatility, with investors eyeing earnings and rate-sensitive demand shifts. Read in detail>>

Oil Stocks Rally As Brent & WTI Surpass Key Levels

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Cathie Wood Buys Nvidia Stock

• Ark Invest's Cathie Wood purchased US$22.8 million of NVIDIA Corporation(NVDA.US) shares, while dumping Advanced Micro Devices, Inc.(AMD.US) and Palantir(PLTR.US) stock positions. Read in detail>>
• Nvidia funds OpenAI's Ohio data center up to US$105 billion per Monday filing.

Jane Street's US$1B Crypto ETF Bet

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SpaceX Lock-up Shares On Way

• Investors disclosed for SpaceX(SPCX.US), triggering a 5% surge Monday as share lock-up expiry approaches.
• Polymarket bets SpaceX and Tesla Motors, Inc.(TSLA.US) merge by 2025, with odds rising on a specific date. Read in detail>>
• SpaceX targets V3 Starlink growth amid merger speculation, potentially boosting satellite internet scale but facing regulatory hurdles. Read in detail>>

Tesla's Cybercab Launch Nears

Tesla Motors, Inc.(TSLA.US) readies August public debut of its first no-steering-wheel robotaxi, per employee briefings.

Rocket Lab Wins US$981M Space Force Deal

Rocket Lab(RKLB.US) joins Boeing Company(BA.US), Lockheed Martin Corporation(LMT.US) and Northrop Grumman Corp.(NOC.US) to build advanced test infrastructure under a US$981 million Space Force program. Read in detail>>

Arm's CEO Eyes M&A After AI Rally

Arm Holdings(ARM.US) shares doubled on AI chip demand; its US$300B market cap boosts SoftBank's acquisition power for strategic deals.

Xos Stock Jumps 86% After Hours

Electric truck maker Xos, Inc.(XOS.US) shares rallied over 86% in extended trading following an undisclosed positive development or news release. Read in detail>>

Intel Advances AI Data Centers With Optics

Intel Corporation(INTC.US) pushes deeper into AI data centers via co-packaged optics for faster, efficient chip interconnects. Read in detail>>

Fed's Treasury Exit Spurs Price-Sensitive Buyers

HSBC says if the Fed reduces its Treasury bond holdings, the US market may rely more on price-sensitive buyers.

Short Squeeze Brewing at US$20B

NASDAQ-100(NDX.US) short exposure hits US$20B with insiders near 15-year high buying, signaling potential squeeze. Read in detail>>

JPMorgan's Eigen: AI Boom Echoes 2008 Crash

Jpmorgan Chase(JPM.US) Bill Eigen compares AI bubble to housing crash, citing bad risk pricing and fears of unsold tech to end users. Read in detail>>

Alibaba Stock Trades Below Fair Value

Alibaba Group Holding Ltd. Sponsored ADR(BABA.US) shares appear undervalued as its AI spending accelerates, with analysts noting growth potential despite market skepticism. Read in detail>>

NRX Pharma Q2 Results Released

NRX Pharmaceuticals, Inc.(NRXP.US) posted Q2 2026 earnings, with the full transcript revealing financial and operational updates. Read in detail>>

Baidu Q2 Earnings Miss Forecasts

• Baidu, Inc. Sponsored ADR Class A(BIDU.US) shares fell after missing Q2 estimates, with revenue and profit below forecasts, pressuring sentiment. Read in detail>>
• Baidu posted adjusted EPS of US$1.06, missing US$1.35 estimates, with sales of US$4.617B, below the US$4.650B forecast. Read in detail>>
• Baidu reported Q2 AI business at 50% and GPU cloud up 283% year-on-year.

Pony AI's Mixed Quarter Revealed

• Pony AI Inc.(PONY.US) reported Q2 adjusted EPS of US$-0.10, beating estimates, while sales of US$36.22M missed the US$67.03M forecast. Read in detail>>
• Pony.ai Q2 Robotaxi revenue jumped 691% YoY, with 4,000+ vehicles set for overseas expansion amid US earnings coverage.

Walmart's US$42.1B Earnings Bet

Walmart Inc.(WMT.US) may swing US$42.1 billion in market value post-report, driven by holiday sales and consumer spending signals. Read in detail>>

Generation Income Beats Q2 FFO

Generation Income Properties, Inc.(GIPR.US) posted Q2 FFO of US$0.02, beating the US$-0.20 estimate, while sales of US$2.111M narrowly missed the US$2.124M forecast. Read in detail>>