Traders work on the floor of the New York Stock Exchange.
NYSE
U.S. stock futures were little changed on Tuesday night as the S&P 500 ended the day’s regular session less than 1% from its all-time high.
Futures tied to the broad market index and Nasdaq 100 futures were last trading marginally higher. Dow Jones Industrial Average futures lost 6 points, or less than 0.1%.
On Tuesday, the S&P 500 rose 1.18%. The Nasdaq Composite gained 1.96%, while the blue-chip Dow advanced 317.74 points, or 0.66%.
The S&P 500 is nearing its all-time high of 7,002.28, reached on Jan. 28. Tuesday marked the index’s ninth positive session in 10, while the technology-heavy Nasdaq also posted its 10th straight session of gains. The S&P 500’s Monday advance erased its losses dating back to when the Iran conflict began in late February.
Investors sent stocks higher on the potential of a deal between the U.S. and Iran materializing, with President Donald Trump saying on Monday that “We’ve been called by the other side.” He added: “They’d like to make a deal very badly.”
On Tuesday, a White House official told CNBC that a second round of negotiations between Washington and Tehran is under discussion. Nothing has been officially scheduled yet, noted the official, who asked not to be named to discuss the administration’s internal plans.
“I don’t think we’re done with the conflict yet. I think there are plenty of concerns still out there,” Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management, said on CNBC’s “Closing Bell: Overtime” on Tuesday afternoon.
“That being said, I do think there are plenty of long-term opportunities for investors to lean into … now you’re seeing investors run back to their favorites, which I think going forward, especially for an intermediate to long-term investor, the opportunities are in things that haven’t done as well the past few years in this narrow market that we’ve had,” he added.
A slew of companies will report earnings before Wednesday’s opening bell, including Bank of America, Morgan Stanley, PNC Financial and ASML. Traders will also watch out for March’s import and export price indexes.
Broadcom shares pop on news of AI chips deal with Meta Platforms
Meta Platforms said it has agreed to deploy 1 gigawatt of custom artificial intelligence chips using Broadcom‘s technology.
The two companies have extended an existing partnership to design the social media giant’s custom in-house AI accelerators through 2029. Shares of Broadcom were last up 3%, while Meta was up less than 1%.
Broadcom shares in the past day
Stocks reporting earnings Wednesday
Nasdaq on pace for longest daily winning streak since 2021
Traders work on the floor of the New York Stock Exchange.
NYSE
Major U.S. stock indices are soaring as energy prices dipped on Tuesday and producer prices came in cooler than expected.
The Nasdaq Composite finished about 1.96% up on the day, marking its 10th positive session in a row for the first time since its 11-day streak ending in November 2021.
The biggest positive mover in the index was Nvidia at +88 points and the biggest daily declines were from Intel at -9 points.
The S&P 500 finished up 1.18%, hitting its ninth positive session in 10. The Dow Industrials rose 0.66%, hitting its fourth positive session in five.
The positive moves come as energy prices declined amid the ongoing U.S.-Israeli conflict with Iran. West Texas Intermediate crude oil for May delivery lost nearly 8% and settled at $91.28 per barrel, and global benchmark Brent crude finished the day down 4.6%, ending at $94.79 per barrel.
President Donald Trump told the New York Post Tuesday that talks with Iran could resume over the next two days.
Producer prices came in softer than expected on Tuesday, offering some relief about the effects of inflation in coming months coming as a result of the war.
The producer price index, which measures pipeline costs for final demand goods, increased by 0.5% in March — less than half of the Dow Jones consensus estimate of 1.1%
—Tobias Burns, Chris Hayes
More AI investment is needed to keep pace with demand, Michael Dell says
Michael Dell said Tuesday that more investment is needed to build up semiconductor manufacturing, given the mismatch in capacity and demand.
“There is a lot of investment that’s going into it, but you also have to understand that the demand is just growing much faster than anybody anticipated,” the Dell Technologies founder and CEO said on stage at the Semafor World Economy conference in Washington, DC. “There’s sort of a mismatch in the timing of how fast the demand signal is changing relative to the planning cycle.”
Shares of Dell Technologies have surged this year as demand grows for its AI-enabled servers. They’re up nearly 50% year to date.
Dell Technologies, YTD
— Sarah Min
Stock futures open little changed
Stock futures traded near flat on Tuesday night.
Futures tied to all three major averages were trading around the flatline shortly after 6 p.m. ET.
— Lisa Kailai Han
