US Futures Tick Higher Ahead of Earnings

US stock futures inched higher on Tuesday as investors braced for a wave of corporate earnings that may offer insight into how firms are navigating elevated geopolitical risks. Key companies scheduled to report later today include UPS, General Motors, Coca-Cola, Visa, and Starbucks. Market participants also continued to monitor diplomatic developments surrounding the US–Iran conflict after Tehran submitted a new proposal to Washington. The US remains wary of the offer and is expected to respond with counterproposals in the coming days, with Iran’s nuclear ambitions still a central point of contention. In after-hours trading, Bed Bath & Beyond and Lending Club jumped more than 26% and 12%, respectively, following stronger-than-expected first-quarter results. During Monday’s regular session, the S&P 500 and Nasdaq Composite rose 0.12% and 0.2%, respectively, both reaching fresh record highs, while the Dow slipped 0.13%.

The Dow Jones Index dropped 63 points or 0.13 percent on Monday to close at 49168 points. Losses were led by McDonalds (-3.06%), Walmart (-1.75%) and IBM (-1.62%). Offsetting the fall, top gainers were Nvidia (4.01%), American Express (1.54%) and Verizon (1.47%).

The S&P 500 rose 0.1% to close at a record 7173.9, while the Nasdaq gained 0.2% to reach a fresh high of 24887 on Monday. The Dow Jones however, fell 63 points. Investors are turning their focus to a pivotal week of earnings from megacap including Apple, Microsoft, Amazon, Alphabet, and Meta. Geopolitical uncertainty surrounding US-Iran relations persists, although reports that Iran proposed reopening the Strait of Hormuz provided some optimism. Oil prices nevertheless continued to climb, rising about 2%. Attention is also on upcoming monetary policy decisions from major central banks, including the Federal Reserve. Among sectors, communication services, financials, and technology posted gains, while consumer staples lagged. Shares of Nvidia jumped 4%, Alphabet rose 1.8%, and Micron Technology surged 5.6%. Qualcomm ended 1% higher, trimming some earlier gains on reports it is collaborating with OpenAI and Mediatek to develop smartphone processors. In contrast, Apple shares fell 1.3%.