Stock futures suggest major U.S. indexes could open slightly lower on Tuesday as investors digest a slew of corporate earnings reports and await results from big technology companies later in the day.
Futures tracking the Dow Jones Industrial Average and S&P 500 fell 0.4% and 0.2%, respectively, and Nasdaq 100 futures fell 0.1%. The major indexes closed higher on Monday, with the Dow Jones Industrial Average ending its five-game losing streak.
Shares of McDonald’s (MCD), a Dow component, fell more than 2% in premarket trading after the fast food chain reported disappointing same-store sales on a better-than-expected earnings report. Ford (F) shares fell 7% after the company reported lower-than-expected profits and cut its full-year outlook.
VF Corporation (VFC), which owns The North Face, Vans and Timberland brands, rose nearly 20% before the bell after reporting quarterly results.
Investors will be waiting for the final bell to begin a multi-day period of earnings reports from tech giants like Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Meta, Alphabet (GOOGL) and Advanced Micro Devices ( We are waiting for the financial results report from AMD. Platform (META) and Intel (INTC).
Large-cap tech stocks were mixed but little changed before the start. Nvidia (NVDA), a favorite among AI investors, fell slightly, as did Apple, Microsoft, and Amazon, while Alphabet and Meta edged higher.
Several economic indicators will be released on Tuesday, including retail inventories, job openings and home prices. The economic calendar will also ramp up significantly in the coming days, with quarterly GDP statistics, monthly inflation data and October employment figures released. Investors are closely monitoring all data points for signs that the economy remains on sound footing and for information that could influence the Federal Reserve’s future interest rate decisions.
The 10-year Treasury yield, which is correlated with interest rate expectations, rose again on Tuesday morning. Yields have been rising, at 4.30% in recent trading, up from 4.28% a day earlier, as market participants readjust their expectations about how aggressively the Fed will cut interest rates.
Oil futures rose about 1% after falling more than 5% on Monday as concerns that Middle East conflict could disrupt Iranian oil production receded.
Gold futures rose slightly to around $2,765 an ounce, again near an all-time high, while Bitcoin soared above $71,000 and is trading at its highest since early June.
