Nasdaq futures up 35.25 points (Il Sole 24 Ore Radiocor) - New York, 26 Jun - US futures marked time with tech stocks inching higher as AI titan Nvidia signalled it was back in the driving seat following recent losses.

Wall Street ended mixed yesterday with the Dow closing down 0.8% while the S&P 500 and tech-heavy Nasdaq both posted gains as Nvidia climbed 6.8% to snap a three-day losing streak.

The California-based company has boomed thanks to growing demand for chips that train and run generative AI models like OpenAI's ChatGPT and has underpinned the market highs hit recently. Its shares were up 2.2% in heavy premarket trade.

Investors will be closely monitoring Nvidia rival Micron Technology which is up nearly 3% premarket ahead of its quarterly earnings later today.

On the data front new home sales will provide further insight into the health of the US housing market as it struggles to come to terms with stubborn inflation and high interest rates. The Federal Reserve's preferred gauge of inflation, the PCE INdex, is expected out later this week.

On the stocks front, shares in Rivian were up 34% in premarket trading after Volkswagen said it intended to invest up to 5 billion dollars in the EV maker while FedEx shares rose 14% after delivering stronger-than-expected sales.

General Mills dipped 4% after it reported a drop in quarterly sales.

Futures on the Dow Jones were down 68.00 points, or 0.17%, S&P 500 futures were up 0.75 points, or 0.01%, while futures on the Nasdaq were 35.25 points, or 0.18%, higher.

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(RADIOCOR) 26-06-24 13:39:12 (0369) 5 NNNN