US pre-open: Futures mixed as tech stocks weigh on Nasdaq
By Iain Gilbert
Date: Tuesday 07 Jul 2026
(Sharecast News) - Wall Street futures were mixed ahead of the open on Tuesday as traders looked ahead to key trade‑deficit figures and tech stocks traded lower following Samsung's second quarter earnings.
As of 1245 BST, Dow Jones futures were up 0.15%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.25% and 1.10% softer, respectively.
The Dow closed 158.84 points higher on Monday as the blue chip broke through the 53,000 barrier for the first time.
Tech stocks were in the red prior to the open, with Micron trading about 5% lower, while fellow chipmakers Marvell Technology, Nvidia, Broadcom and AMD also traded lower, weighing on the tech heavy Nasdaq. SpaceX also slipped roughly 2% ahead of its scheduled addition to the Nasdaq 100 later in the day.
Tuesday's pre-market weakness followed a sharp tech‑led sell‑off in Asia‑Pacific markets, where South Korea's Kospi dropped nearly 5% after a 7% slide in Samsung as concerns over spending and demand overshadowed a strong jump in the company's Q2 operating profits.
Trade Nation's David Morrison said: "On Monday, tech stocks had rallied, helping the NASDAQ to close up over 1% while the S&P added 0.7%. But it looks as if investors have been influenced by the Asian Pacific selloff which came despite blow-out numbers from Samsung Electronics. Investors are wondering if SpaceX can improve the mood as it enters the Nasdaq 100 later today. Its inclusion looks likely to trigger some large buying orders as funds which duplicate the major indices, and other investment vehicles, will be forced to add the stock to their various funds and portfolios.
"Meanwhile, investors are having to deal with a rate hike expectations conundrum. Kevin Warsh, the new chair at the Federal Reserve, has kicked off his term in a hawkish fashion. He stated that the Fed's focus is on getting inflation down to its 2% target, even as core PCE ticked up to 3.4% year-on-year last month. This has brought about a sharp increase in rate hike expectations, with the CME's FedWatch Tool, which measures real money flows, indicating a 78% probability of at least one 25-basis point rate increase before year-end. Despite this, inflation expectations have dropped sharply along with the price of oil, and many analysts are stating that they don't expect any rate hikes from the Fed this year. Who to believe: the market or your own 'lying eyes'?"
On the macro front, May's goods and services trade balance figures will be published at 1330 BST.
US Treasury yields ticked higher in pre-market action as investors looked ahead to trade‑deficit data, as well as minutes from the latest FOMC meeting on Wednesday,with the ten‑year yield rising a little over two basis points to 4.501%, while the two‑year note added just over one basis point to 4.141%.
No major corporate earnings were slated for release on Tuesday.
Reporting by Iain Gilbert at Sharecast.com
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