5 Things to Know Before the Stock Market Opens on Tuesday

• Nasdaq futures fell 1% and S&P 500 futures down 0.2%, while Dow futures gained 0.3%; semiconductor stocks dropped sharply with the VanEck Semiconductor ETF down 3% after Samsung's results failed to meet AI-driven expectations
• SpaceX officially joins the Nasdaq 100 index ahead of the opening bell, less than a month after its record-breaking IPO following rule changes to accommodate major AI stock debuts
• Fiserv shares rallied on reports that JPMorgan, Bank of America, Wells Fargo and PNC are considering acquiring its payments network to bypass debit card transaction fee limits, while Rivian stock fell despite beating Q2 revenue estimates as it announced a new stock offering of 75 million shares

Market Summary: Tuesday Pre-Open

Market Overview

Stock futures point to a mixed open following Monday's session, which saw the Dow close at a record high while AI-driven rallies boosted the S&P 500 and Nasdaq. Nasdaq and S&P 500 futures declined 1% and 0.2% respectively, while Dow futures gained 0.3%. The 10-year Treasury yield edged up to 4.50%.

Key Developments

SpaceX Joins Nasdaq 100: The space exploration company enters the Nasdaq 100 index today, less than a month after its record-breaking IPO. This addition follows rule changes by major index providers to accommodate anticipated AI stock debuts.

Semiconductor Sector Under Pressure: Samsung's preliminary Q2 results disappointed investors despite beating consensus estimates. The Korean tech giant reported expected revenue of 171 trillion won ($112.7 billion) and operating profit of 89.4 trillion won ($59 billion). The underwhelming reaction triggered selloffs in U.S. chip stocks: Nvidia and Broadcom down 2%, Intel and AMD dropping over 3%, with the VanEck Semiconductor ETF falling 3% pre-market.

Fiserv Acquisition Speculation: Fiserv shares rallied on reports that major banks including JPMorgan, Bank of America, Wells Fargo, and PNC Financial considered acquiring its payments network. The move could help banks bypass debit card transaction fee limits, though some banks have reportedly abandoned the idea.

Rivian Mixed Results: The EV maker announced preliminary Q2 revenue of $1.55-$1.65 billion (up from $1.3 billion YoY, beating $1.45 billion consensus), but shares fell following announcement of a 75 million share public offering.

Commodities

WTI crude rose 0.7% to $69/barrel after a tanker incident in the Strait of Hormuz. Gold held steady around $4,170/ounce, while Bitcoin remained flat at $63,700.