Tech Resilience Drives US Stock Futures Higher

US stock futures rose on Tuesday, building on the previous session's strong performance as the corporate earnings season gained momentum. Spotify's shares surged over 10% after it exceeded Wall Street's first-quarter expectations and provided optimistic guidance for the second quarter. Conversely, UPS shares slightly declined in premarket trading despite reporting quarterly results that exceeded expectations. Similarly, PepsiCo's shares dipped even after surpassing earnings forecasts, and GE Aerospace also reported earnings that beat predic.

These movements followed a positive Wall Street session, where investors capitalized on recent dips in tech stocks, including Nvidia, which had previously suffered due to concerns about higher inflation and potential interest rate hikes. Looking ahead, the earnings schedule remains tech-heavy, with Tesla expected to report after the closing bell today, followed by Meta Platforms on Wednesday and both Alphabet and Microsoft on Thursday.

The Nasdaq has shown resilience, bouncing from its median line. This week's additional earnings announcements could potentially drive the index further upward, especially if the results exceed expectations.