Nasdaq Futures Slide 200 Points as Oil, Yields Rise

Nasdaq 100 futures fell about 200 points in premarket trading. S&P 500 futures slipped about 23 points (0.29%) and Dow futures were down roughly 103 points (0.17%) as Brent crude rose above $95 a barrel and the 10-year U.S. Treasury yield approached 4.8%.

Renewed tensions between the U.S. and Iran coincided with Brent climbing above $95 and West Texas Intermediate trading over $90. At the same time, the 10-year Treasury yield moved toward 4.8%.

Broadcom will report fiscal third-quarter results after Wednesday’s close. Options markets are pricing an implied move of roughly 7% in either direction. Wall Street expects Broadcom to report about $29 billion in quarterly revenue. Market attention is on demand for AI semiconductors, growth in custom chips, the durability of cloud-provider partnerships and the company’s path to its AI revenue targets.

Dell reported stronger-than-expected quarterly results and raised its outlook, and its shares rose in premarket trading. The company’s report highlighted continued spending on servers and other systems used for artificial intelligence workloads.

Nvidia remains a central supplier of AI chips and demand for its products continues to be strong. Market discussion has shifted toward whether large capital expenditures by cloud and technology companies will generate sufficient profit. That debate includes other chipmakers and memory suppliers such as Broadcom, AMD and Micron.

Analysts noted that rising bond yields have refocused attention on inflation risks. Higher energy prices can add to inflation pressures. Upcoming U.S. employment data and any signals from the Federal Reserve on the path for interest rates will be monitored for their impact on borrowing costs and equity valuations.

Traders will watch the next few sessions to determine whether the recent pullback is temporary or the start of a broader re-rating of risk assets. Corporate earnings momentum remains, while higher oil prices and longer-term yields are factors in market pricing.