Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell on July 18, 2025, in New York City.
Angela Weiss | AFP | Getty Images
Stock futures are near flat Tuesday night as investors questioned whether the S&P 500 could continue trading around all-time highs with big tech earnings kicking off.
Dow Jones Industrial Average futures gained 46 points, or 0.1%. S&P 500 futures sat near flat, while Nasdaq 100 futures ticked down 0.1%.
Those moves follow a second straight day concluding at a high for the S&P 500, which inched up 0.06% in the session. Tuesday marked the 11th closing record of 2025 for the benchmark index. The 30-stock Dow climbed nearly 180 points in the session. The tech-heavy Nasdaq Composite, on the other hand, fell about 0.4% as chip stocks took a hit.
“There’s not a lot of optimism,” said Ryan Detrick, chief market strategist at Carson Group, on CNBC’s “Closing Bell.” But, “we said there’d be a summer rally. It wasn’t popular. It’s happening. We think it’s not over yet,” he added.
Investors are awaiting earnings from Alphabet and Tesla expected Wednesday after the bell. They are the first reports of the earnings season from the megacap technology sector, a group that’s been closely watched given its market leadership in recent years.
Beyond big tech, investors will also monitor reports from Hasbro before the bell, followed by Chipotle Mexican Grill and Mattel after the market closes. These releases come amid a busy earnings week. Of the approximately 17% of S&P 500 companies that have reported so far this season, about 85% have posted earnings that surpassed Wall Street’s expectations.
On the economics front, traders will follow existing home sales data due Wednesday morning.