U.S. stock futures are mixed Tuesday after the big-name technology companies of the Magnificent 7 came roaring back to life to start the week.
Markets are also digesting the news that Kamala Harris is increasingly likely to become the Democrats’ candidate to face Donald Trump in November’s presidential election.
It’s another big earnings day with auto maker GM, beverages giant Coca-Cola, and GE Aerospace reporting before the bell and EV titan Tesla and Google parent Alphabet posting after the market close.
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U.S. stock futures were mixed Tuesday after the big-name technology companies of the Magnificent 7 came roaring back to life to start the week.
Futures for the Dow Jones Industrial Average rose 17 points, or less than 0.1%. Contracts tied to the S&P 500 fell 0.1%, and those for the technology-heavy Nasdaq retreated 0.2%. All three indexes rose on Monday.
It was tech stocks such as Tesla, Nvidia, and Google-parent Alphabet that drove the gains after a week in which they had largely fallen back while shares from other sectors forged ahead. Companies are in the middle of reporting earnings, providing more catalysts for the market.
“With precious little in the way of economic news on the horizon for today, corporate earnings are likely to be the main driver of sentiment,” said Derren Nathan, head of equity research at Hargreaves Lansdown. U.S. stocks just had “their best day in weeks as Big Tech overcame the recent stutter in the sector’s relentless rise.”
Bond yields were little changed. The rate on the benchmark 10-year U.S. Treasury bond was at 4.244%. The yield on the 2-year note was at 4.517.
