Dow Futures rose 0.60%, S&P 500 Futures rose 0.77%, Nasdaq Futures rose 1.31%, reflecting a broadly risk-on tone.
Chip stocks rose in overnight trading. Direxion Daily Semiconductors Bull 3x Shares rose 6%; SK hynix rose 4%; Western Digital, NXP Semiconductors, and SanDisk rose 3%; Micron Technology, Seagate Technology, and Intel rose 2%; AMD and TSMC rose 1%; Nvidia rose 0.9%.
Optical communication stocks rallied in overnight trading. AXT rose 5%; Credo Technology rose 4%; Lumentum, Applied Optoelectronics, POET Technologies, and Coherent rose 3%.
Crypto stocks climbed in overnight trading. BitMine rose 6%; Riot Platforms and Strategy rose 3%; Coinbase, Robinhood, and Circle rose 2%.
Monolithic Power (MPWR) rose 4.28%. Oppenheimer maintained a $1,700 target ahead of July 30 results, citing AI-driven strength.
Bloom Energy Corp (BE) climbed 3.83%. Brookfield expanded their AI infrastructure partnership to $25 billion, supporting sentiment before earnings.
Applied Materials (AMAT) advanced 3.12% after HSBC raised its target to $683, with Citi and UBS moving to $705 amid equipment demand.
Oil stocks fell, with United States Oil Fund LP (USO) falling 5.53%, Chevron falling 3.26%, Occidental falling 3.23%, Exxon Mobil falling 3.1%.
Big tech stocks was mixed, with Apple rising 1.66%, SpaceX falling 1.43%, Meta Platforms, Inc. (META) rising 1.08%.
Elsewhere, APPLIED DIGITAL CORP (APLD) rising 4.49%, CoreWeave, Inc. (CRWV) rising 3.13%.
Among other individual movers, Newmont Mining rose 3.22%, iShares Silver Trust (SLV) rose 2.83%, IONQ Inc. rose 2.65%, United Airlines rose 2.53%, NuScale Power rose 2.47%, Oklo Inc. rose 2.16%, American Airlines (AAL) rose 2.11%, AST SpaceMobile, Inc. (ASTS) rose 2.06%.