Nasdaq 100: Futures Up as Nvidia, Nebius Rally on AI Hype Ahead of CPI This Week

Nasdaq Futures Push Higher as Nebius and Nvidia Lead Early Tech Charge

U.S. stock futures ticked up Tuesday morning, as the Nasdaq Composite looked to build on its overnight record close. At 11:46 GMT, Dow futures rose 44 points (+0.10%), S&P 500 futures added 6 points (+0.09%), and Nasdaq futures gained 42.75 points (+0.18%), driven by premarket strength in AI and chip stocks.

Traders are positioning early ahead of a packed week of economic data, led by the CPI and PPI inflation reports. But before the Fed narrative kicks into gear, eyes are on breakout moves in Nebius, Nvidia, and upcoming catalysts from Apple and Oracle.

Which Stocks Are Driving Premarket Momentum?

Nebius Group exploded 54% higher premarket after landing a multi-year AI infrastructure deal with Microsoft. The company has already surged more than 131% this year and is emerging as a retail and institutional favorite in the AI infrastructure race.

Nvidia traded modestly higher in the premarket, continuing its run as a key driver of Nasdaq strength. The stock has been a top contributor to index gains over the past month and remains highly sensitive to any signals on rates and tech demand.

Apple shares dipped slightly ahead of its iPhone event today, but the setup has traders watching for any upside surprises on new device specs or price points. With shares near record highs, the market will be quick to react to any change in consumer strategy or hardware innovation.

Oracle reports earnings after the bell and could offer a critical read on enterprise IT and AI adoption trends. Expectations are high given rising investor interest in cloud infrastructure names, but delivery will be key.

What’s the Economic Signal from Small Business Optimism?

The NFIB Small Business Optimism Index ticked up to 100.8 in August from 100.3, while the uncertainty index dropped to 93. That’s a mildly positive read, but concerns over labor quality remain. With small businesses driving a significant portion of U.S. employment, continued hiring strain could reinforce recent softness in labor market data.

Market Outlook: All Eyes on CPI to Confirm Fed Cut Path

Traders are in a holding pattern ahead of Thursday’s CPI print, expected to rise from 2.7% to 2.9%. A stronger number could threaten the recent rate-cut rally, especially in tech. But for now, equity momentum remains intact, with futures green and growth stocks leading. CPI will be the next big test. Until then, traders are buying early leaders and positioning for high-impact catalysts.

More Information in our Economic Calendar.