US pre-open: Futures inch higher, chip stocks boosted by ASML

15th Jul 2026 11:45

(Sharecast News) - US stock futures were posting tentative gains in pre-market trade on Wednesday as investors continued to digest the previous day's soft inflation reading and what it means for the interest rate outlook.

Dow futures were more or less flat, while the S&P 500 was rising 0.1% and the Nasdaq was seen 0.4% higher.

Helping sentiment on the tech-heavy Nasdaq were results from Dutch chipmaker ASML, which raised full-year guidance for a second time after reporting better-than-expected second-quarter results, as surging demand for AI chips prompted customers to accelerate capacity expansion plans.

New York-listed Broadcom, Marvell Technology and AMD were putting in gains in pre-market trading.

Also in demand ahead of the bell was PayPal on the back of reports that payments group Stripe and private equity firm Advent International have made ​a joint offer to buy the firm for $60.50 per share, in a deal that would value it at more than $53bn.

Tuesday's consumer price index reading was still making headlines after showing that the annual US inflation rate dropped to 3.5% in June from 4.2% in May, coming in well below the consensus forecast of 3.8%.

"The June US CPI report suggests that the US economy is having a goldilocks moment, and fears about rate hikes from the Fed in July and September could be put to bed. This may help the global stock market rally to continue, and even broaden out, after a weak start to the month for consumer staples, consumer discretionary and healthcare stocks," said Kathleen Brooks, research director at XTB.

On Wednesday's slate, US wholesale price inflation figures will be released before the opening bell, with the producer price index expected to show a 6.2% year-on-year increase for June, down from 6.5% the month before, as a result of cooling energy prices. Excluding food and energy, however, core PPI inflation is tipped to rise to 5.2% from 4.9%.

MBA mortgage applications data and the NY Empire State manufacturing index will also be on tap.

Meanwhile, a close eye was being kept on developments in the Middle East after Donald Trump threatened to expand US strikes on Iran and target the country's infrastructure. In an interview with Fox News on Tuesday, Trump threatened to continue to hit Iran "very hard" until it returns to the negotiating table.

The US President's comments came after he abandoned plans to impose a 20% charge on cargo shipments through the vital Strait of Hormuz.

Brent crude was rising 0.9% to $85.51 a barrel, while WTI crude was up 0.9% at $80.04, on track to settle at their highest levels in a month.