Traders work on the floor of the New York Stock Exchange (NYSE) on December 02, 2025 in New York City.
Spencer Platt | Getty Images News | Getty Images
Stock futures are little changed Tuesday night after major U.S. indexes recovered some losses from the previous session
Futures tied to the Dow Jones Industrial Average added 32 points, or less than 0.1%. S&P futures and Nasdaq 100 futures were also up less than 0.1%.
In after-hours trading, shares of Marvell Technology gained more than 10% as Wall Street reacted to its data center growth projections. American Eagle Outfitters stock also rallied more than 10% after the retailer lifted its full-year forecast, saying the holiday shopping season was off to strong start.
The major indexes ended higher across the board on Tuesday as tech stocks such as Nvidia rose and bitcoin gained, one day after the flagship cryptocurrency logged its worst day since March. To be sure, the S&P 500 and 30-stock Dow had, at one point during the session, traded in the red while the Nasdaq Composite stumbled along the flatline as choppy sentiment around the artificial intelligence trade continues.
Investors are gauging the possibility of year-end rally, as December trading historically bodes well for U.S. stocks and because November was such a downbeat month as profit-taking trimmed valuations for some high-flying names.
Traders are optimistic about corporate earnings results and are looking ahead to the Federal Reserve’s interest rate decision on Dec. 10. Markets are pricing a roughly 89% chance of a cut during the upcoming meeting, which is much higher than the odds from mid-November, according to the CME FedWatch tool.
The ADP employment report for November, which is set to release at 8:15 a.m. ET on Wednesday, is expected to reflect a relatively stable labor market and further inform the Fed’s rate decision.
“I think AI earnings are going to continue to be strong. … We’re going to see more contribution from more beaten-down sectors, and we’re starting to see some of the more short-cycle industrials and more beaten-down sectors starting to see better pricing power,” said Wells Fargo chief equity strategist Ohsung Kwon said Tuesday on CNBC’s “Power Lunch.” “I don’t think it’s a bubble yet.”
Marvell inks $3.25 billion deal, sees robust data center revenue growth ahead
Semiconductor company Marvell on Tuesday announced that it will acquire Celestial AI for at least $3.25 billion in cash and stock. The purchase price could increase to $5.5 billion if Celestial hits revenue milestones, Marvell said.
The company also reported third-quarter earnings that beat expectations and said on its earnings call that it expected data center revenue will rise 25% in next fiscal year. Marvell shares jumped more than 10% after the upbeat outlook, which topped analyst predictions and doesn’t include any benefit from the Celestial AI deal.
For more, read here.
— Kif Leswing, Pia Singh
Stocks moving in after-hours trading: Pure Storage, CrowdStrike, Okta and more
Check out the companies making headlines in after-hours trading.
- Pure Storage — Shares of the data management and storage company plunged nearly 10% after Pure Storage reported third-quarter adjusted earnings of 58 cents per share that matched consensus expectations, according to LSEG. The company posted revenue for the period of $964.5 million, up 16% year-over-year, which exceeded the $956 million expected from analysts polled by LSEG.
- CrowdStrike Holdings — The cybersecurity provider fell more than 1% after posting third-quarter earnings and revenue, and issuing full-year earnings guidance that topped analyst estimates, as compiled by LSEG. CrowdStrike has rallied 25% over the past three months.
- Okta — Shares of the identity management provider fell more than 3% after Okta CEO Todd McKinnon said upside from its AI agents aren’t “fully baked” into results. Still, Okta beat third-quarter estimates and gave an upbeat outlook. The company earned 82 cents per share, on an adjusted basis, on revenue of $742 million. Analysts polled by LSEG forecasted earnings of 76 cents per share on revenue of $730 million.
For the full list, read here.
— Pia Singh
