United States stock futures traded within a tight range on Tuesday evening (Wednesday AEST) as investors digested strong early-week gains and awaited further cues to sustain the recent market rebound.
By 8:55 am AEST (10:55 pm GMT) Dow Jones Industrial Average futures, S&P 500 futures and Nasdaq 100 futures were trading within a range of ±0.1%.
In after-hours trading, American Eagle Outfitters dropped 13.9% after the company withdrew its fiscal 2025 guidance, citing macroeconomic uncertainty.
Aurora Innovation fell 17.2% after its largest shareholder, Uber, announced a US$1 billion private placement of exchangeable senior notes.
The muted movement comes after a broadly upbeat session on Wall Street overnight. The S&P 500 rose 0.7% on Tuesday, turning positive for the year, while the Nasdaq Composite jumped 1.6% to notch its fifth straight day of gains.
The Dow Jones Industrial Average, however, declined 0.6%, dragged lower by a 17.8% drop in UnitedHealth shares after CEO Andrew Witty abruptly resigned and the company withdrew its 2025 financial guidance.
Technology stocks led Tuesday’s rally, with Nvidia surging 5.6% on news it would deliver more than 18,000 of its AI chips to Saudi Arabia.
This week’s rally has been underpinned by easing tensions between the U.S. and China. The two countries agreed to a 90-day reduction in tariffs over the weekend, boosting investor sentiment and helping equity markets recover from prior losses.
