United States stock futures slipped slightly on Monday night (Tuesday AEST) after Wall Street closed higher, with investors monitoring rising global trade tensions and upcoming economic data.
By 8:45 am AEST (10:45 pm GMT), futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 each dipped 0.1%.
In after-hours trading, Credo Technology surged 12.2% after the company reported fiscal fourth-quarter adjusted earnings per share (EPS) of $0.35, surpassing market expectations of $0.27, while revenue came in at US$170 million, also beating the $159.59 million forecast.
In the regular trading session, the Dow inched up 0.1%, the S&P 500 added 0.4%, and the Nasdaq Composite climbed 0.7%, continuing the positive momentum that opened June.
Despite the gains, geopolitical concerns weighed on sentiment. Beijing rejected President Donald Trump’s claims that China had violated a temporary trade agreement, casting doubt on hopes for a resolution.
Investors had grown optimistic that the U.S. and China could stabilise relations, but the latest exchanges suggest talks may be faltering again.
The European Union also condemned Trump’s decision to double U.S. steel tariffs to 50%, calling the move a threat to negotiations and warning of possible retaliatory measures.
Investors are now turning their focus to earnings reports from Dollar General, Signet Jewelers, and Nio, all due before Tuesday’s market open.
On the economic front, traders will watch for fresh data on April’s job openings (JOLTS), as well as updates on durable goods orders and factory activity, which could offer further insights into the strength of the U.S. economy.
