Stock futures were little changed Tuesday amid a flurry of corporate earnings releases, as the U.S. equities market looks to extend a rally that has pushed major indexes to record highs.
Futures tied to the Dow Jones Industrial Average, S&P 500 and Nasdaq 100 were all wavering between slight gains and losses about 90 minutes before the open. The major indexes finished solidly higher on Monday, as big gains for technology stocks powered the S&P 500 and the Dow to record closing highs.
Among the noteworthy movers before the opening bell on Tuesday, shares of Bank of America (BAC) and Goldman Sachs (GS) were each up more than 2% after the financial services giants reported better-than-expected quarterly results. Citigroup (C) was up 1.5% after releasing its earnings.
Johnson & Johnson (JNJ) and UnitedHealth (UNH) were both down after reporting results, while shares of while Walgreens Boots Alliance (WBA) surged after reporting strong earnings and announcing plans to close over 1,000 stores in the coming years.
Boeing (BA) shares were up about 1% after the beleaguered plane maker said in securities filings that it had entered into a $10 billion credit agreement with a group of lenders, and that it could raise up to $25 billion in stock or debt offerings in the next few years.
Mega-cap technology stocks were mostly higher in premarket trading, with Microsoft (MSFT), Apple (AAPL), Meta Platforms (META), Alphabet (GOOGL) and Amazon (AMZN) all gaining ground. The notable exception was AI investor favorite Nvidia (NVDA), which was down about 1% after surging to a record closing high on Monday.
The economic data calendar is light on Tuesday but investors will be watching out for comments from a pair of Federal Reserve officials who are scheduled to speak today. Market participants are keeping close tabs on economic data and the views of Fed representatives for indications that the economy remains on sound footing and that the central bank is poised to continue cutting interest rates.
Crude oil futures were down about 4%, extending the previous day’s sharp decline, as volatility persists amid concerns about global demand and the possibility of expanded conflict in the Middle East.
Bitcoin was down about 1% at around $65,300 after gaining more than 5% on Monday. Gold futures were little changed at around $2,670 an ounce.
Read More: Stock Futures Little Changed as Investors Digest Flurry of Earnings Reports