Nvidia, JPMorgan and Tesla rise premarket; Wells Fargo slips

Investing.com - Investing.com -- U.S. stock futures rose Tuesday ahead of the release of key inflation data as well as a number of major bank quarterly earnings reports.

Here are some of the biggest premarket U.S. stock movers today:

• Nvidia (NASDAQ:NVDA) stock rose 4.5% after the AI-darling said it will resume selling its H20 processor in China “soon,” as trade relations improve between Washington and Beijing.

• The news also lifted other chipmakers, with Advanced Micro Devices (NASDAQ:AMD) rising 4.3%, Marvell (NASDAQ:MRVL) up 2.5% and U.S.-listed shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) gaining 2.3%.

• Tesla (NASDAQ:TSLA) stock rose 0.4% after the EV manufacturer revealed the pricing for its Model Y in India, with the company set to open multiple showrooms and begin Indian sales later in July.

• JPMorgan Chase (NYSE:JPM) stock rose 0.3% after trading revenue soared in the quarter as investors seized opportunities and hedged risks in response to shifting U.S. tariff policies. Profit fell, reflecting a difficult comparison to last year when the bank had recorded a one-time accounting gain.

• Alphabet (NASDAQ:GOOGL) stock rose 0.2% after the tech giant’s Google unit reached an agreement to secure up to 3 gigawatts of U.S. hydropower in what represents the world’s largest corporate clean power deal for hydroelectricity.

• Wells Fargo (NYSE:WFC) stock fell 1.5% after the lender’s profit rose in the second quarter as it set aside less money to shield for potential bad loans, while it also cut its expectation for annual interest income.

• BlackRock (NYSE:BLK) stock fell 1.7% despite the world’s largest asset manager’s assets under management rising to a record $12.53 trillion in the quarter, after significant stock appreciation since the company’s first-quarter earnings.

• BNY Mellon (NYSE:BK) stock rose 1.3% after the lender’s profit jumped in the second quarter, driven by higher interest income and fee revenue growth, as client portfolios swelled due to a recovery in the equity market.

• Trade Desk (NASDAQ:TTD) surged 14% with the software firm set to join the benchmark S&P 500 index.