U.S. stock futures inched higher on Tuesday, following a fifth straight winning session in the the S&P 500 (SPX), as investors awaited more earnings reports. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 were up 0.45%, 0.27%, and 0.35%, respectively, at 4:09 a.m. EST, April 29.
Yesterday, the S&P 500 managed a small gain of less than 0.1%, extending its winning streak to five days. Meanwhile, the Dow rose about 0.3%, while the Nasdaq Composite (NDAQ) slipped 0.1%.
The upbeat mood was also supported by news that President Trump plans to ease auto tariffs ahead of a rally in Michigan. The move is seen as an effort to win support from automakers and voters in the key swing state.
On the earnings front, investors are gearing up for a busy earnings week, with about one-third of S&P 500-listed firms slated to post results this week. This includes four of the “Magnificent Seven” tech giants, with Meta Platforms (META) and Microsoft (MSFT) expected to release their results on Wednesday and Amazon (AMZN) and Apple (AAPL) scheduled for Thursday. Apart from these, key companies such as SoFi Technologies (SOFI), Coca-Cola (KO), PayPal Holdings (PYPL), and Visa (V), are set to release their results today.
So far this earnings season, over 36% of S&P 500 firms have reported earnings, with 73% beating estimates, slightly below the 5-year average of 77%, hinting at softer earnings momentum due to economic pressures or cautious corporate outlooks.
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.237%. Simultaneously, WTI crude oil futures are trending lower, hovering near $61.22 per barrel as of the last check.
Elsewhere, European indices opened higher on Tuesday, as investors looked at earnings to see how U.S. tariffs and global worries are affecting companies.
Asia-Pacific Markets Traded Mixed on Tuesday
Most Asia-Pacific indices were mixed today after the Trump administration announced plans to reduce the impact of auto tariffs, while investors also reviewed company earnings.
Hong Kong’s Hang Seng Index was up 0.16%. At the same time, China’s Shenzhen Component index was down 0.05% and Shanghai Composite index was down 0.05%. Meanwhile, Japan’s Nikkei and Topix indices gained 0.38% and 0.86%, respectively.
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