Advertisment
S&P 500 futures were little changed on Tuesday after the broad market index posted its fifth straight day of gains on Monday.
Futures for the Dow Jones Industrials shot higher 163 points, or 0.4% to 40,531.
Futures for the S&P 500 index was unchanged to 5,553
Futures for the NASDAQ Composite lopped off 11.5 points to 19,516.50.
General Motors fell more than 2% in the premarket after the automaker reported better-than-expected profit but said it was reassessing future guidance and suspending more share buybacks as it awaits clarity on the impact from the levies. Shares had risen earlier on reports that Trump was willing to make concessions on foreign-made parts used in domestic production.
GM’s decision follows a number of other companies that have announced they’re reconsidering their full-year forecasts in the wake of rising global trade tensions. Last week, American Airlines and Skechers withdrew their 2025 outlooks, with both companies citing economic uncertainty.
Investors are gearing up for a busy earnings week, with about one-third of S&P 500-listed firms slated to post results between Monday and Friday. Big Tech is of particular focus, with Meta Platforms and Microsoft expected on Wednesday and Apple and Amazon scheduled for Thursday.
Of the more than 36% of S&P 500 companies that have reported so far this season, about 73% have exceeded Wall Street expectations, modestly below the five-year average of 77%.
Markets in Japan were shuttered for a holiday Tuesday, while in Hong Kong, the Hang Seng edged up 0.2%.
Oil prices sank $1.04 to $61.01 U.S. a barrel.
Gold prices dipped $23.10 to $3,324.60 U.S. an ounce.