United States equity futures were mixed on Tuesday night (Wednesday AEST) after the Dow Jones Industrial Average extended record highs, capping its strongest first-half performance in several years as investors continued to rotate through major sectors and assess corporate earnings strength.
By 10 am AEST (12 am GMT), Dow futures were down 0.2%, S&P 500 futures slipped 0.1%, while Nasdaq 100 futures hovered near the flatline.
In after-hours trading, Nike fell 2.5% despite reporting adjusted earnings per share (EPS) of $0.20, excluding a $0.52 benefit related to the expected recovery of IEEPA tariffs.
This compared with expectations of $0.12 per share on revenue of $10.97 billion, versus $10.85 billion forecast.
Constellation Brands gained 3% in extended trading after posting adjusted EPS of $3.43, ahead of estimates of $3.19, on revenue of $2.43 billion compared with expectations of $2.39 billion.
During the regular session, all three major U.S. benchmarks closed higher. The Dow added 0.3% to a fresh record close, the S&P 500 rose 0.8%, and the Nasdaq Composite advanced 1.5%.
The gains helped drive a strong first half of 2026 for equities. The Dow rose 8.9% over the period, its best first-half performance since 2021. The S&P 500 gained 9.6%, while the Nasdaq climbed 12.8%.
The small-cap Russell 2000 outperformed, surging nearly 22% to record its strongest first-half rally since 1991.
Technology and artificial intelligence-linked shares remained key drivers of the rally. Chipmakers were among the standout performers on Tuesday, with a broader semiconductor surge adding an estimated $2 trillion in combined market capitalisation across Micron, Intel and Advanced Micro Devices during the second quarter.
Attention now turns to monetary policy signals and upcoming data releases. Federal Reserve Chair Kevin Warsh is scheduled to speak at the European Central Bank Forum on Central Banking in Sintra, Portugal.
Since taking office, he has outlined plans to restructure aspects of the Federal Reserve’s policy framework through new internal reviews and task forces, as markets continue to assess the central bank’s inflation response and potential rate path.
On the economic calendar, traders will focus on the ADP employment report for June, alongside the ISM manufacturing index and final global PMI manufacturing readings, which are expected to provide further insight into the health of the U.S. economy heading into the second half of the year.
