United States stock futures remained little changed on Tuesday evening (Wednesday AEDT) as investors monitored a deluge of corporate earnings results ahead of January’s consumer inflation report, a key data release that could influence the Federal Reserve’s interest rate path.
By 10:25 am AEDT (11:25 pm GMT) Dow Jones Industrial Average futures and S&P 500 futures ticked 0.1% lower, while Nasdaq 100 futures were flat.
Several major stocks saw notable after-hours moves following earnings announcements:
Lyft tumbled 11.1% after issuing weaker-than-expected guidance.
Super Micro Computer fluctuated after the company released preliminary results but failed to file required reports with the SEC.
Upstart Holdings surged 25.4% as it exceeded expectations, reporting fourth-quarter earnings per share (EPS) of $0.26 - well above the forecasted loss of $0.04.
DoorDash climbed 5.8% following strong results.
Meanwhile, Federal Reserve Chair Jerome Powell reiterated a cautious stance on monetary policy during his testimony before the Senate Banking Committee on Tuesday.
“With our policy stance now significantly less restrictive than it had been and the economy remaining strong, we do not need to be in a hurry to adjust our policy stance,” Powell said.
His remarks come at a time of heightened trade uncertainty, as former President Donald Trump pushes for tariffs against U.S. trading partners.
Investors are closely watching Wednesday’s release of the January Consumer Price Index (CPI), which is expected to show a 0.3% monthly increase and a 2.9% annual gain.
In addition to the CPI report, Powell will testify before the House Financial Services Committee on Wednesday.
Investors will also monitor earnings from CVS Health, Robinhood, Cisco Systems, and MGM Resorts for further market direction.