United States stock futures were little changed on Monday night (Tuesday AEST) after the S&P 500 and Nasdaq Composite closed at fresh record highs, as investors turned their attention to a pivotal week of corporate earnings and monetary policy signals.
By 9:35 am AEST (11:35 pm GMT), Dow futures ticked up 0.1%, while S&P 500 futures and Nasdaq futures each rose 0.2%.
In extended trading, Bed Bath & Beyond surged 26.4% after reporting first-quarter revenue of US$247.75 million, ahead of the $240.09 million expected. The retailer also posted an adjusted loss of 24 cents per share, narrower than the anticipated 28-cent loss.
Cadence Design Systems added 1.2% after the company reported first-quarter adjusted earnings per share (EPS) of $1.96 versus $1.88 expected, on revenue of $1.47 billion versus $1.45 billion expected.
Nucor gained 3.5% after reporting first-quarter earnings of $3.23 per share, beating expectations of $2.82 per share. Revenue of $9.5 billion also topped forecasts of $8.88 billion.
During Monday’s regular session, both the S&P 500 and the tech-heavy Nasdaq reached new intraday and closing highs. The S&P 500 rose 0.1%, while the Nasdaq added 0.2%. The Dow Jones Industrial Average fell 0.1%.
Equity gains were capped by ongoing geopolitical tensions, as peace talks between the United States and Iran showed little progress.
Over the weekend, President Donald Trump cancelled plans to send special envoy Steve Witkoff and Jared Kushner to Pakistan for ceasefire discussions, indicating talks could instead take place remotely.
However, some optimism emerged after White House press secretary Karoline Leavitt confirmed that Trump and his national security team had discussed Iran’s proposal to reopen the Strait of Hormuz, contingent on ending the conflict and lifting the U.S. blockade.
The developments come during a critical week for markets, with five of the “Magnificent Seven” technology giants set to report earnings.
Investors are expected to closely assess whether substantial investments in artificial intelligence are beginning to translate into financial returns.
Attention will also be on the Federal Reserve, with policymakers set to conclude their latest policy meeting on Wednesday (Thursday AEST). The central bank is widely expected to leave interest rates unchanged, but market participants will scrutinise the statement and comments from Chair Jerome Powell for guidance on the economic outlook and inflation trajectory.
On the economic front, traders will monitor April’s consumer confidence data, which could provide further insight into the resilience of the U.S. consumer amid rising energy prices and geopolitical uncertainty.
Several major companies, including UPS, General Motors, Coca-Cola, and Hilton Worldwide, are also scheduled to report earnings before the opening bell on Tuesday.
