U.S. stock futures rose slightly on Tuesday night as investors prepared for a busy Wednesday. The market is waiting for earnings reports from four major tech giants and a key interest rate update from the Federal Reserve. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) Index were up 0.28%, 0.16%, and 0.10%, respectively, at 10:00 p.m. EDT on April 28.
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Trade QQQ with leverageAt the time of writing, Brent crude (CM:BZ) was up by 0.58% to $106.7 per barrel, while WTI crude (CM:CL) gained 0.66% to $100.59.
In after-hours trading, Starbucks (SBUX) jumped 5% after raising its full-year outlook, while Robinhood (HOOD) fell 9% after missing first-quarter expectations. Seagate Technology (STX) and NXP Semiconductors (NXPI) both surged about 16% after strong earnings and upbeat guidance.
During regular trading session on Tuesday, major indices finished lower. The S&P 500 and the Nasdaq pulled back from record highs. The Nasdaq, the S&P 500, and the Dow slipped 0.9%, 0.5%, and 0.1%, respectively. This was largely driven by a report that OpenAI missed its growth targets. The news weighed on AI-linked stocks such as Oracle (ORCL), Broadcom (AVGO), and Nvidia (NVDA).
Looking ahead, four major tech firms — Alphabet (GOOGL), Amazon (AMZN), Meta Platforms (META), and Microsoft (MSFT) — are set to report earnings after Wednesday’s close. Investors are looking for proof that these companies’ heavy spending on AI is actually paying off in revenue.
On the economic front, durable goods orders, the FOMC interest rate decision, housing starts, and building permits reports will be released on Wednesday.