New Delhi, July 21 -- US stock futures traded sharply higher in Tuesday's session, 21 July, led by a rebound in chip stocks following last week's steep sell-off. Investors also continued to monitor developments in West Asia, where the conflict entered its 10th consecutive day.

Futures tied to the Dow Jones Industrial Average rose 166 points, or 0.3%, while S&P 500 futures and Nasdaq-100 futures gained 0.6% and 1.4%, respectively. In the previous session, all three major US indices ended in the red.

Chip stocks, which have been the primary drivers of Wall Street's rally this year, staged a recovery after last week's sharp correction. Investors appeared to be taking advantage of lower valuations after the sector suffered its worst weekly ...