Nasdaq futures drop 150 points as oil spikes and Asian tech weakens
U.S. stock futures were mixed Tuesday as rising oil prices and weak Asian tech shares threatened Wall Street's recovery, with Nasdaq 100 futures falling 150 points (0.5%) and S&P 500 futures down 0.13%, while Dow futures gained 0.19%. Brent crude neared $111 per barrel after reported attacks near the Gulf, adding inflation concerns. General Motors beat earnings expectations with $50 billion in revenue and announced a $20 billion buyback, while GE Aerospace raised its profit outlook. Asian markets fell sharply, with South Korea's KOSPI down 3.7% after AI firm Elice dropped 32% on debut. U.S. housing starts data for September is due Tuesday, with forecasts around 1.31 million units. The Federal Reserve meets October 27-28, and weak housing figures could complicate its inflation fight.