United States stock futures were little changed on Tuesday night (Wednesday AEST) as Wall Street took a breather, ending a six-day rally that had pushed stocks to recent highs.
By 9:30 am AEST (11:30 pm GMT), Dow Jones Industrial Average futures lost 0.2%, while S&P 500 futures and Nasdaq 100 futures slipped 0.1% apiece.
In after-hours trading, Palo Alto Networks fell 3.7% despite beating earnings and revenue estimates as the cybersecurity firm reported a slight slowdown in remaining performance obligations for its fiscal third quarter.
Video game publisher Take-Two Interactive Software dropped 3% after announcing a $1 billion common stock offering, with JPMorgan and Goldman Sachs acting as lead bookrunners.
Toll Brothers climbed 5% after reporting second-quarter earnings of $3.50 per share, beating consensus estimates of $2.83. Revenue came in at $2.71 billion, above the projected $2.48 billion.
The muted futures action followed a disappointing regular session on Tuesday that broke the S&P 500’s six-day win streak and marked the Nasdaq Composite’s first negative session in three days. The Dow Jones Industrial Average also ended lower, snapping a three-day rally with a drop of over 100 points.
Despite the pullback, all three major benchmarks remain above their levels from April 2, the day U.S. President Donald Trump announced his ‘Liberation Day’ tariffs.
Investors are keeping an eye on developments in Washington, where debate continues over the budget bill and the federal deficit. No major economic data is expected on Wednesday, but attention will turn to a busy day of earnings.
Before the bell, reports are expected from Lowe’s, Target, Canada Goose, and TJX Companies, with Snowflake set to report after markets close.
