Nvidia stock was slumping Tuesday following a report about harsher curbs on chip sales to China ahead of a make-or-break quarterly earnings report. Shares of the semiconductor maker has fallen 2.4% to $127.

Nvidia has grown into the 2nd largest company on Wall Street, so the stock’s movement carries more weight on the S&P 500 than every company except Apple.

U.S. equity futures moved higher in early Monday trading, helped by a pullback in the dollar and steady Treasury bond yields, as investors looked to claw back some of last week's sharp declines heading into a key week for tech stocks on Wall Street.