Geopolitics, Oil Rally Pushes Futures Lower as Big Tech and Semis in Focus

U.S. stock futures edged lower in premarket trading as simmering Middle East tensions, rising Treasury yields (the 30-year above 5.3%), and a rally in crude oil above $90 weigh on risk assets. Nasdaq futures fell by about 1% and S&P 500 futures around 0.5% as investors digest geopolitical risk and mixed earnings chatter. Analysts remain divided on the near-term path—Evercore ISI sketches a bullish path to a much higher S&P 500, BTIG warns of a potential ~7% pullback, and Ray Dalio cautions that AI optimism could echo past bubbles. Focus stocks include META, TSLA, NVDA, MU, NBIS, SLS, and HD, with NBIS expanding Vineland capacity and SLS news in play ahead of earnings season. Oil strength and rising yields also color the backdrop as traders await key data and events (including Home Depot’s earnings).