Stock futures are little changed as Wall Street gears up for Federal Reserve rate decision: Live updates

U.S. stock futures were little changed on Tuesday night as traders looked ahead to the central bank’s interest rate decision.

S&P 500 futures were marginally higher, while Nasdaq 100 futures added 0.2%. Futures tied to the Dow Jones Industrial Average were up just 19 points.

During the day’s regular session, the Dow climbed to new intraday and closing highs, ultimately gaining 328.64 points, or 0.64%. The blue-chip index crossed over 52,000 for the first time during the trading session, but ultimately closed a hair below the level. On the other hand, the S&P 500 and Nasdaq Composite shed 0.57% and 1.15%, respectively.

SpaceX shares continued their winning ways, closing up more than 4% in Tuesday’s session. Elon Musk’s space company is up almost 50% from its initial public offering price of $135 a share. The stock extended gains in after-hours trading, last up 2%.

The moves came after all three major averages rose on Monday, following an announcement from President Donald Trump that the U.S. and Iran had reached a potential deal to end the war. Pakistani Prime Minister Shehbaz Sharif said that both sides have terminated their military operations, while an official signing ceremony will take place in Switzerland this Friday.

“I think we’re in pretty good shape here for a solid finish to the quarter, and then, as we go into the second half, color us constructive,” said Scott Chronert, head of U.S. equity strategy at Citi Research, on CNBC’s “Closing Bell: Overtime” on Tuesday afternoon.

The strategist said that he still expects leadership out of the artificial intelligence infrastructure cohort going into the second quarter reporting period. “With oil prices beginning to come off here as we get closer to an Iran conflict resolution, I think we can see the Fed moving to the sidelines,” he said.

“What this ultimately does is extend the broadening playbook, which has been underway for the past month or so, all of which gives us, in our view, a path higher as we go into the back half of the year,” Chronert said.

Wednesday’s Federal Open Market Committee meeting marks the first one with new Chairman Kevin Warsh at the helm of the U.S. central bank. Investors are largely expecting that the Fed will keep interest rates unchanged at a target range of 3.5% to 3.75%. However, most Wall Street Fed watchers anticipate that Warsh won’t submit a “dot” to the FOMC’s quarterly update of where individual officers expect rates to head from here.

CarMax and Jabil are set to report earnings before Wednesday’s opening bell. Traders will also watch out for May’s retail and pending home sales readings.