US stock futures continued their upward trajectory ahead of Tuesday’s opening bell, with investors closely monitoring the latest financial results from several major corporations.
Futures for the Standard & Poor’s 500 rose by 0.2%, the Dow Jones Industrial Average gained 0.4%, and the Nasdaq saw a modest 0.1% increase during premarket trading. Meanwhile, Asian exchanges displayed a mixed-to-lower trend, while European stock markets were heading north.
Before the market opens, companies like Pfizer (PFE), Amgen (AMGN), Caterpillar (CAT), Anheuser-Busch Inbev (BUD), Ares Management (ARES), GE HealthCare Technologies (GEHC), Global Payments (GPN), and Sirius XM Holdings (SIRI) are set to release their earnings reports. Advanced Micro Devices (AMD) and Yum China (YUMC) are scheduled to report their results after the market closes.
Pinterest’s (PINS) shares experienced a notable 17% surge following the release of their third-quarter results, which exceeded Wall Street’s expectations. Arista Networks (ANET) also saw a 10% climb in its stock price after delivering stronger-than-expected third-quarter results, while Tesla (TSLA) experienced a 1.2% decline.
On the economic calendar, the third-quarter employment cost index is set to be released at 8:30 am ET, followed by the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index for August at 9 am. The Chicago Purchasing Managers’ Index for October is scheduled to be published at 9:45 am.
The Conference Board’s Consumer Confidence report for this month is expected to be released at 10 am, and September’s farm prices index is due at 3 pm. The Federal Reserve’s monetary policy-setting committee is set to meet on Tuesday, with an interest rate decision expected on Wednesday.
In premarket trading, Bitcoin showed a marginal increase of less than 0.1%, reaching $34,417. West Texas Intermediate crude oil rose by 0.8% to $82.97 per barrel, while yields on 10-year Treasuries decreased by 6 basis points to 4.82%. Gold saw a slight uptick of 0.1%, reaching $2,007 per ounce.