U.S. stock index futures were little changed on Tuesday evening after the S&P 500 closed near record highs amid hopes of a diplomatic breakthrough in the Middle East, while investors watched a wave of corporate earnings.
S&P 500 Futures were largely unchanged at 7,007.75 points, while Nasdaq 100 Futures edged up 0.1% to 26,012.75 points by 20:43 ET (00:43 GMT). Dow Jones Futures were muted at 48,752.0 points.
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Wall St extends gains on hopes of Iran conflict resolution In the regular session, the S&P 500 rose 1.2% to finish just shy of its all-time closing peak, while the NASDAQ Composite surged nearly 2% and the Dow Jones Industrial Average gained around 0.7%.
The rally was driven by technology stocks and easing oil prices, as optimism grew over a potential de-escalation in the Middle East conflict.
U.S. President Donald Trump said on Monday that “we’ve been called by the other side,” adding that “they’d like to make a deal very badly,” signaling possible progress in talks with Iran.
This came even as tensions remained elevated. The U.S. has begun a naval blockade of ships leaving Iranian ports, while Tehran has threatened retaliation against ports in neighboring Gulf states after weekend talks collapsed.
Economic data also supported markets, with U.S. producer price index figures coming in softer than expected. Annual PPI rose about 4.0%, below forecasts of 4.6%, while monthly gains were also muted, pointing to easing pipeline inflation pressures.
BofA, Morgan Stanley results ahead On the earnings front, major banks delivered mixed results. JPMorgan Chase (NYSE:JPM) reported stronger-than-expected profit driven by trading, while Wells Fargo (NYSE:WFC) missed revenue expectations despite a rise in profit.
Healthcare bellwether Johnson & Johnson (NYSE:JNJ) beat estimates and raised its outlook, supported by strong drug sales.
Focus now turns to Wednesday’s earnings, with Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) set to report, alongside chip equipment maker ASML, which could provide further insight into global technology demand.
