Futures Little Changed After Record High
Stock futures were little changed Tuesday, a day after the S&P 500 and NASDAQ Composite hit fresh records.
Futures for the Dow Jones Industrials retreated 71 points, or 0.2%, to 44,476.
Futures for the S&P 500 lost three points, or 0.1%, to 6,341.75.
Futures for the NASDAQ dipped 33 points, or 0.2%, to 23,309.
In the previous session, the S&P 500 rose about 0.1% and the NASDAQ advanced nearly 0.4%. Both indexes hit new all-time intraday highs and closed at records, aided by a pre-earnings jump in Alphabet. The Dow underperformed and ended the day marginally lower.
Investors are turning to a big week for second-quarter financial results. So far, more than 60 S&P 500 companies have reported, with more than 85% of those topping analysts’ estimates, according to FactSet data. Eyes are on commentary from companies about macroeconomic certainty, the impact of tariffs and details on demand and spending related to artificial intelligence.
Philip Morris International, Coca-Cola and Lockheed Martin are just a few of the companies on deck to report earnings results on Tuesday.
Google parent Alphabet and Tesla will report Wednesday, kicking off highly anticipated results from the “Magnificent Seven” companies. The mega-cap tech companies are expected to contribute to a significant amount of earnings growth this season.
In Japan, the Nikkei 225 index inched back 0.1% Tuesday, while in Hong Kong, the Hang Seng tacked on 0.5%
Oil prices gave back 57 cents to $66.67 U.S. a barrel.
Gold prices retreated 8.3 points to $3,398.10 U.S. an ounce.
