United States stock futures were little changed on Monday night (Tuesday AEST) after the Nasdaq Composite closed at a fresh record high, with investors looking ahead to key inflation readings later this week.
By 8:50 am AEST (10:50 pm GMT), Dow futures, S&P 500 futures and Nasdaq 100 futures were each trading 0.1% higher.
In extended deals, Nebius Group shares surged 43.3% in after-hours trading on Monday (Tuesday AEST) following a five-year cloud services deal with Microsoft valued at up to US$19.4 billion (A$29.64 billion).
Fox Corp. shares fell 3.7% after the Murdoch family settled a dispute over its family trust, cementing Lachlan Murdoch’s control of the media group.
Mission Produce climbed 1.8% after third-quarter earnings beat estimates, posting adjusted earnings per share (EPS) $0.26 on revenue of $357.7 million, above market estimates of $0.14 on $320.25 million in revenue.
Casey’s General Stores traded 1.3% lower despite reporting stronger-than-expected fiscal first-quarter results, with earnings of $5.77 per share on $4.57 billion in revenue, topping consensus forecasts.
Dell Technologies slid 2% after announcing that Chief Financial Officer Yvonne McGill will step down, effective Tuesday. David Kennedy, senior vice president of global business operations and finance, was named interim CFO.
On Monday, Wall Street ended higher with the Nasdaq advancing 0.5% as technology names drove gains. The S&P 500 rose 0.2% and the Dow added 0.3%.
Investors are now focused on August’s producer price index and consumer price index, which could guide Federal Reserve policy at its meeting next week.
Weaker nonfarm payrolls data last week bolstered hopes for lower rates, but any upside surprise in inflation could challenge those expectations.
The NFIB Small Business Optimism Index is also slated for release before Tuesday’s U.S. open, offering further insight into business sentiment and the health of the labour market.
After the bell, GameStop and Oracle will report results, while Apple is expected to draw attention with the unveiling of its latest iPhone and other devices.
