US pre-open: Futures steady as Nvidia gains on Trump chip deal
By Iain Gilbert
Date: Tuesday 09 Dec 2025
(Sharecast News) - Wall Street futures were little changed ahead of the opening bell on Tuesday even as Nvidia shares ticked higher after Donald Trump approved H200 chip sales to China under a deal that will see the US government receive a 25% cut.
As of 1230 GMT, Dow Jones futures were up 0.06%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.07% and 0.01% firmer, respectively.
The Dow closed 215.67 points lower on Monday, more than reversing gains recorded in the previous session.
Nvidia shares traded higher in pre-market trading after Trump said on social media said the tech giant could ship its H200 chips to "approved customers" in China and elsewhere on the condition that a quarter of sales proceeds go to Washington. Trump added that Chinese president Xi Jinping had "responded positively" to the agreement.
Rostro's Joshua Mahony said: "US tech stocks will be in the limelight today, following Trumps agreement to allow the export of advanced chips such as Nvidia's H200 to China. Understandably this is a win for the likes of Nvidia, AMD and Intel, with China representing far more than simply one more market to expand into. The debate over who leads in the AI war highlights the fact that China will arguably provide a market as big as the US should these companies manage to become embedded into the fabric of their build-out. However, the fear is that the export of these key products will simply speed up the development of Chinese products and services that ultimately undercut US firms much like we have seen for the EV market."
Elsewhere, investor attention will remain firmly on the Federal Reserve's final policy decision of the year, due at 1900 GMT on Wednesday, with markets betting the central bank will lower its key overnight lending rate by another quarter point, repeating moves made in September and October. According to CME's FedWatch tool, traders now see an 89% chance of a cut, up from less than 67% a month ago.
On the macro front, the National Federation of Independent Business' small business optimism index rose to 99 in November, the highest level in three months, up from 98.2 in October and beating forecasts of 98.4. The report showed that 21% of respondents cited labour quality as their biggest problem, down six points from October, while the net share of owners anticipating higher real sales volumes rose nine points to 15%. When asked about the overall health of their business, 11% rated it as excellent, down one point, and 53% as good, up two points.
Still to come, September and October JOLTS job openings figures will be release at 1500 GMT.
In the corporate space, GameStop, Dave & Busters, and Cracker Barrel were all slated to report earnings after the close.
Reporting by Iain Gilbert at Sharecast.com
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