U.S. Expands Iran Sanctions as Bitcoin Breaks $80,000 and Markets Await Nvidia: Dow Jones, S&P, Nasdaq, Wall Street Futures

U.S. stock futures moved higher on Tuesday as investors looked ahead to Nvidia (NASDAQ:NVDA) earnings and key inflation data later in the week, while markets assessed Washington's expanded sanctions campaign against Iran. Bitcoin (COIN:BTCUSD), meanwhile, extended its rally above $80,000.

Oil prices moved lower following the White House's announcement of measures aimed at further isolating Iran from the global financial system, while Intuit (NASDAQ:INTU) is among the major companies scheduled to report earnings after the U.S. market close.

U.S. Stock Futures Rise Ahead of Nvidia Earnings

Wall Street futures pointed to a positive opening. By 03:08 ET (07:08 GMT), Dow futures were up 89 points, or 0.2%, while S&P 500 futures gained 20 points, or 0.3%. Nasdaq 100 futures advanced 165 points, or 0.6%.

The gains followed a weaker session for the major U.S. indices, when selling pressure across AI-related companies, including semiconductor manufacturers and chip equipment suppliers, outweighed gains in financial and consumer staples stocks.

Investors are now turning their attention towards Nvidia's upcoming quarterly report, which is expected to provide another important indication of demand across the artificial intelligence industry. Inflation data due later in the week will also be closely scrutinised for clues about the outlook for monetary policy.