Traders work at the New York Stock Exchange on May 7, 2026.
NYSE
U.S. stock futures were little changed on Tuesday night as traders looked ahead to the release of another major inflation report.
S&P 500 futures and Nasdaq 100 futures inched down about 0.1%. Futures tied to the Dow Jones Industrial Average slipped 9 points, or less than 0.1%.
During Tuesday’s session, both the S&P 500 and Nasdaq Composite pulled back from their records. The broad market index slipped 0.16%, while the tech-heavy Nasdaq lost 0.71%. The Dow bucked these losses, adding 56.09 points, or 0.11%.
Stocks were weighed down by losses in the technology sector and higher oil prices after President Donald Trump on Monday called the month-old ceasefire between the U.S. and Iran “unbelievably weak” and “on massive life support” after rejecting an “unacceptable” counterproposal from Tehran to end the war. Investors were also digesting a hotter-than-expected annual consumer price index reading for April which saw consumer prices rise at their highest rate in about three years.
Traders will look forward to the release of another inflation report on Wednesday morning — April’s producer price index. Economists polled by Dow Jones are expecting a headline increase of 0.5% on the month, in line with March’s rate. Excluding volatile food and energy prices, this number is expected to come in at a 0.4% rise.
Even as tech took a breather on Tuesday, the artificial intelligence trade has overall still been the market’s dominant driver this year. Olaolu Aganga, head of portfolio construction at Citi Wealth, believes that AI spend expanding outside of the tech sector leaves room for investors to buy into other opportunities in the market.
“We have global views that we think are lasting and enduring, so energy security and infrastructure — those companies that can benefit from the capex spending with regards to energy and the grid and energy independence,” she said on CNBC’s “Closing Bell: Overtime” on Tuesday afternoon. “So if you’ve missed this particular wave, there are some themes that we believe will be playing out over time, frankly, that we need to focus on, that we think we have durable earnings there as well.”
Allianz, Birkenstock, Alibaba and Nebius will report earnings before Wednesday’s opening bell.
Asia markets mixed as investors focus on Trump-Xi meeting and Iran tensions
Asia-Pacific markets were mixed Wednesday, as investors digest a hotter-than-expected inflation reading for April amid concerns over higher oil prices and the ongoing Middle East conflict.
Investors will also be focusing on developments related to the upcoming meeting between Trump and Chinese President Xi Jinping, where trade is expected to be discussed.
South Korea’s Kospi reversed losses at the start of the session to gain 1.21% while the small-cap Kosdaq was flat. Japan’s Nikkei 225 added 0.22%, while the Topix rose 0.94%. Australia’s ASX slipped 0.26%.
China’s CSI 300 was down 0.34% and Hong Kong’s Hang Seng index was marginally higher
—Justina Lee
Health care sector outperforms on Tuesday
On Tuesday, seven of the 11 GICS sectors ended the day higher.
The day’s gains were led by health care stocks, which rose 1.93%. Consumer staples and financials followed, with the sectors adding 1.56% and 0.72%, respectively.
On the other hand, consumer discretionary stocks fell 1.06% and were the day’s laggards. The information technology sector lost 0.99%, while industrials shed 0.40%. Materials ended the day with a 0.14% loss.
— Lisa Kailai Han
Stocks making the biggest moves after the bell: Nextpower, Oklo and more
These are the stocks moving the most in extended-hours trading:
Nextpower — The energy stock popped 10% after Nextpower raised its full-year revenue guidance to a range of $3.8 billion to $4.1 billion, while previously it had estimated a range of between $3.6 billion to $3.8 billion. The company also posted a fiscal fourth-quarter adjusted earnings and revenue beat versus analysts’ expectations, per FactSet.
Karman — Shares plunged nearly 11% after the aerospace and defense company posted fiscal first-quarter adjusted earnings of 11 cents per share, while analysts polled by FactSet were expecting 12 cents. On the other hand, Karman’s revenue and adjusted EBITDA for the last quarter came in above forecasts.
Resideo Technologies — Shares fell 7% after the home security products and systems company guided for current-quarter adjusted earnings in the range of 71 to 75 cents per share, while analysts were expecting 84 cents, per FactSet. The company also sees its revenue falling in between $1.916 billion to $1.940 billion, versus the $2.01 billion analyst consensus. However, Resideo reported a first-quarter beat on both the top and bottom lines.
Oklo — The nuclear stock slipped 2% after posting a first-quarter net loss of $33.1 million, while analysts surveyed by FactSet had penciled in a loss of $32.1 million. The company’s operating loss of $51.2 million was also wider than the consensus estimate for a loss of $44.3 million.
— Lisa Kailai Han
Stock futures are little changed
Stock futures opened 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
