U.S. stock futures advanced on Tuesday evening as investors looked to sustain the market’s sharp gains from earlier in the day, driven by optimism over a potential easing of U.S.-China trade tensions.
By 8:30 am AEST (10:30 pm GMT) Dow Jones Industrial Average futures, S&P 500 futures, and Nasdaq 100 futures climbed 1.4%, 1.6%, and 1.8%, respectively.
In extended deals, Tesla rose 5.4%, even after reporting first-quarter earnings that missed market estimates. Earnings came in at $0.27 per share versus $0.41 per share expected, while revenues were reported at US$19.34 billion versus $21.27 billion expected.
Investor expectations had been muted heading into the results, helping limit the downside reaction.
Enphase Energy dropped 11.6% after missing first-quarter expectations and issuing underwhelming guidance, raising concerns about the company’s growth outlook.
Oklo declined 6.3% following news that Sam Altman would step down as Chairman of the Board.
The positive momentum followed a strong rally in regular trading hours, when stocks surged after Treasury Secretary Scott Bessent indicated that progress could be made in trade talks with China.
Speaking at an investor meeting hosted by JPMorgan Chase, Bessent remarked that “no one thinks the current status quo is sustainable”, referring to the ongoing trade standoff.
