US stock futures swing higher in volatile trade; tech remains weak By

-- U.S. stock index futures reversed early losses and Large foreign exchange dealerrose sharply in evening deals on Tuesday following a rebound rally on Wall Street, although weakness in technology stocks persisted.

The turn in futures was not immediately attributable to any single factor, but did come after some Bank of Japan officials downplayed the bank's plans to raise interest rates.

Wall Street indexes recovered a measure of recent losses on Tuesday, amid some bargain buying. But sentiment remained tenuous amid persistent concerns over slowing growth and middling earnings.

jumped 0.7% to 5,301.0 points, while surged 1% to 18,356.50 points by 22:34 ET (02:34 GMT). rose 0.6% to 39,058.0 points. 

Super Micro earnings disappoint, tech stocks fall

Data center operator Super Micro Computer Inc (NASDAQ:) plunged nearly 13% in aftermarket trade as its June quarter earnings missed estimates, raising more concerns over just how much demand the artificial intelligence industry was generating.

While the firm did forecast better-than-expected guidance for the current quarter, its shares saw little support. 

Soft earnings from Super Micro sparked aftermarket losses in broader technology stocks. NVIDIA Corporation (NASDAQ:), which is a client of the firm, sank 2.3%, while Advanced Micro Devices Inc (NASDAQ:) lost 1%. 

Losses in technology stocks were a major factor behind a recent rout in Wall Street, as mixed earnings from tech heavyweights such as Alphabet Inc (NASDAQ:) and Microsoft Corporation (NASDAQ:) sparked concerns over slowing returns from AI.

Investors also locked-in strong profits in tech stocks after hype over AI drove a major valuation spike in the past year. 

Wall Street recovers some bruising losses 

Wall Street indexes rose on Tuesday, recovering a measure of bruising losses clocked over the past week, amid concerns over a U.S. recession and a tech slowdown.

The rose 1% to 5,240.03 points, while the rose 1% to 16,358.17 points, with both indexes rising from three-month lows. The rose 0.8% to 38,997.66 points. 

Sentiment towards risk-driven assets remained frail. But the prospect of lower interest rates in the coming months offered some support, as markets bet that worsening economic conditions will spur the Federal Reserve into cutting rates more than initially expected. 

More key earnings are on tap this week, with media giant Walt Company (NYSE:) set to report on Wednesday.

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!