Today’s Market Movers: Coinbase, Palantir and Intel Lead Tuesday’s Market Action

TLDR

• Stock futures fell Tuesday as oil prices pushed the 10-Year Treasury yield to its highest in over 19 years
• Coinbase, Robinhood, and Strategy dropped as hopes faded for the Clarity Act crypto regulation bill ahead of a Senate vote
• Chip stocks including Intel, Micron, and Sandisk edged higher after Monday’s selloff tied to AI slowdown calls
• Dave & Buster’s fell 14% after posting an unexpected Q2 loss, while Radiant Logistics jumped 13% on strong earnings
• Enova International dropped 20% after pulling its bank acquisition bid following regulatory uncertainty

Stock futures dipped Tuesday morning as a combination of rising oil prices, high bond yields, and renewed debate over AI development weighed on markets ahead of a key Federal Reserve rate decision.

The 10-Year Treasury yield climbed to its highest level in more than 19 years, driven by a rally in benchmark oil prices. Energy stocks bucked the broader trend, with Halliburton adding 1% and Occidental Petroleum rising 0.8%.

Crypto Stocks Fall on Clarity Act Uncertainty

Coinbase dropped 4.1%, Robinhood declined 2.2%, and Strategy fell 3.5% as optimism around the Clarity Act faded. The crypto regulation bill is scheduled for a Senate vote Tuesday afternoon, but passage is now looking less certain.

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