Stock futures are mixed on Tuesday morning as earnings reports from major companies roll in and investors await more details on President Donald Trump’s tariff plans.
Futures tied to the Dow Jones Industrial Average were up 0.4% recently, while those tied to the S&P 500 were off 0.1% and Nasdaq futures slipped 0.2%. The S&P 500 and Dow inched higher on Monday to extend their winning streaks to five days, while the tech-heavy Nasdaq Composite fell slightly,
Stocks have gotten a boost over the past week as quarterly results from major companies have generally been strong and amid hopes that the Trump administration will soften its stance on tariffs. The White House says the tariffs are needed to restore competitive balance, bring manufacturing and jobs back to the U.S., and raise revenue, but investors worry the import taxes could spur inflation, stall economic growth and hurt companies that do business around the world.
Shares of General Motors (GM) were down more than 1% in premarket trading despite a better-than-expected earnings report as the automaker postponed its earnings call by two days amid uncertainty about tariffs. The move came as The Wall Street Journal late Monday reported that the Trump administration would likely reduce the potential burden of tariffs on automakers.
Among other noteworthy post-earnings movers, shares of Dow components Honeywell (HON) and Sherwin-Williams (SHW) were each up more than 4% in premarket trading. Coca-Cola (KO) and United Parcel Service (UPS) tacked on 1% and 2%, respectively, while Regeneron Pharmaceuticals (REGN) tumbled 7% and Spotify (SPOT) fell 5%.
Shares of the world’s largest technology companies were treading water this morning ahead of the highly anticipated releases of earnings reports from Microsoft (MSFT) and Meta Platforms (META) tomorrow, and Apple (AAPL) and Amazon (AMZN) on Thursday. Shares of each of those companies were little changed ahead of the bell, as were Nvidia (NVDA), Alphabet (GOOG), Tesla (TSLA) and Broadcom (AVGO).
The economic data calendar is relatively light today but picks up significantly on Wednesday, with the quarterly GDP report and a key inflation reading slated to be released. The always-important jobs report for April is due at the end of the week. Investors are keeping a close eye on all the data points as they look for signs of how the tariffs are affecting the economy.
The yield on the 10-year Treasury, which affects borrowing costs on all sorts of loans, notably mortgages, was up slightly this morning at 4.23%. The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, was up 0.4% at 99.36, after hitting a three-year low below 98 just over a week ago.
Gold futures, which hit a record high early last week of around $3,500 an ounce as investors turned to the traditional safe haven amid concerns about tariffs, was recently down 0.8% at $3,320. West Texas Intermediate futures, the U.S. crude oil benchmark, slipped 1.6% to $61.05 per barrel.
Bitcoin was little changed this morning at around $95,000.