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Tech Stocks Fuel Market Rally Ahead of Retail Data, Earnings

Investing.com •
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U.S. stock futures held steady Tuesday following a Nasdaq-led rebound, with investors awaiting December retail sales data and a wave of corporate earnings. The tech-heavy index gained 0.9% Monday, nearing record highs after OpenAI reported ChatGPT user growth revived optimism in AI-related stocks. Analysts upgraded Oracle based on its $300 billion AI data-center deal with the ChatGPT maker.

Eyes turn to Tuesday's earnings from CVS Health, Coca-Cola, and Marriott International, while Onsemi shares fell 3.3% after-hours on weak chip demand forecasts. The Arizona-based semiconductor firm cited sluggish EV sales and Chinese competition, with Q4 revenue missing estimates. December's core retail sales growth is expected to slow to 0.3% from November's 0.5%, testing consumer resilience amid cooling job markets.

Japan's Nikkei surged 2.2% to a record 58,000 as Prime Minister Sanae Takaichi's pro-business election win energized markets. Gold fell 1.6% to $5,070/oz, retreating from recent peaks as traders braced for U.S. economic data and Federal Reserve policy signals. Precious metals remain volatile with platinum dropping 1.8% and silver down 1.6%.