U.S. stock futures were steady early Tuesday after a strong trading session that saw the S&P 500 (SPX) and Nasdaq Composite hit new highs. Futures on the Nasdaq 100 (NDX) and the S&P 500 were down 0.13% and 0.04%, respectively, while the futures on the Dow Jones Industrial Average (DJIA) edged up 0.04% at 4:30 a.m. EST on July 22.
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During Monday’s session, the S&P 500 climbed about 0.1% to close above 6,300 for the first time, helped by upbeat Q2 earnings results from Verizon Communications (VZ). Meanwhile, the Nasdaq jumped 0.4% to a record 20,974.17, fueled by investor optimism ahead of major tech earnings. However, the Dow Jones ended marginally lower.
In after-hours trading, Farmer Bros. (FARM) stock jumped 22% after the company announced that it is exploring strategic alternatives. However, Steel Dynamics (STLD) slipped 1.2% due to weak Q2 earnings report.
Investors are now looking ahead to a busy week for second-quarter earnings releases. To date, over 60 S&P 500 companies have reported their earnings, with more than 85% of them beating analysts’ estimates.
With more reports on deck, market participants are awaiting corporate comments about macroeconomic stability, tariff impact, and insights into AI demand and spending.
Major firms like Philip Morris (PM), General Motors (GM), Capital One (COF), Coca-Cola (KO), and Lockheed Martin (LMT) will release their quarterly numbers today.
On the economic front, all eyes will be on Fed Chair Jerome Powell, who will speak in Washington on Tuesday morning.
Meanwhile, the U.S. 10-year Treasury yield was up, floating near 4.39%. However, WTI crude oil futures were trending lower, hovering near $66.68 per barrel as of the last check. At the same time, the Gold Spot U.S. Dollar Price decreased to nearly $3,386 per ounce on Tuesday.
Elsewhere, European stocks opened lower today, with investors cautious as the U.S. deadline to impose a 30% tariff on EU goods nears.
Asia-Pacific Markets Traded Mixed Today
Asia-Pacific markets traded mixed today after Wall Street benchmarks closed at record highs. Japanese stocks opened higher after the ruling coalition lost its upper house majority over the weekend.
The Hong Kong index was up 0.40%. Further, China’s Shanghai Composite and Shenzhen Component indices closed higher by 0.62% and 0.84%, respectively. At the same time, Japan’s Nikkei index declined 0.11%, but the Topix index gained 0.06%.
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