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US stock futures were little changed on Tuesday after another record-setting day on Wall Street.
Contracts on the Dow Jones Industrial Average (YM=F), the S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) all wobbled around the flat line.
Stocks jumped on Monday to clinch a third straight day of record-high closes, lifted by high hopes the AI trade and further Federal Reserve interest-rate cuts will continue to fuel the rally.
On the tech side, the Nasdaq Composite (^IXIC) led gains after Nvidia (NVDA) stock soared on news the AI chipmaker plans to invest roughly $100 billion in OpenAI. Meanwhile, Oracle (ORCL) shares rose as the White House confirmed its proposed role in a TikTok deal, while Tesla (TSLA) secured a new 2025 closing high.
The spotlight is now on Micron Technology (MU) quarterly results due later, watched for updates on AI-driven demand and revenue guidance.
On the Fed-watching side, the central bank’s chair Jerome Powell is scheduled to deliver a speech on monetary policy later Tuesday,
The main event for Wall Street this week lands Friday with the release of the Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures index. Wall Street will be looking for signs that inflation isn’t rising too quickly, which could threaten expectations of two more rate cuts this year.
In corporates, Disney (DIS) announced the return of “Jimmy Kimmel Live!” to its ABC network. The show was suspended six days ago after the chair of the Federal Communications Commission threatened the company over comments the host made about Charlie Kirk’s killing.
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Gold pushes to new record as gold ETFs reach three year high
Gold (GC=F) hit a new record high as traders were unfazed by comments from Fed officials about forthcoming monetary policy.
Bloomberg reports:
