Intel, Sandisk, Palantir, Coinbase, and More Stocks That Explain Today’s Market

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Traders working on the floor of the New York Stock Exchange. (Spencer Platt/Getty Images)

Key Points

Stock futures fell on Tuesday as rising oil prices pushed the 10-Year Treasury yield to its highest level in more than 19 years.
Chip and memory stocks edged higher in premarket trading, while software developers slipped as investors locked in profits.
Coinbase, Robinhood and Strategy fell as hopes faded for the passage of the Clarity Act, a crypto regulation bill facing a Senate vote.

Stock futures were falling on Tuesday as a rally in oil prices drove the 10-Year Treasury yield to its highest level in more than 19 years.

Chip and memory stocks were edging higher, having taken a battering on Monday after several top executives called for a slowdown in AI development. Coherent, Intel , Lumentum, Micron , and Sandisk all rose ahead of the opening bell.

Shares of software developers were struggling as investors locked in some profit following the previous session’s rally. CrowdStrike, Palantir, and Workday all slipped in premarket trading.

Crypto exchange Coinbase dropped 4.1%, trading platform Robinhood declined 2.2%, and Bitcoin investor Strategy fell 3.5% as hopes of the Clarity Act passing this year faded. The Senate is set to vote on the crypto regulation bill on Tuesday afternoon.

Shares of energy majors were rising as benchmark oil prices rallied. Halliburton added 1% and Occidental Petroleum climbed 0.8%.

Write to George Glover at george.glover@dowjones.com

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