Traders work at the New York Stock Exchange on May 9, 2025.
NYSE
U.S. stock futures were little changed Tuesday night, after the S&P 500 notched a second straight day of gains.
Dow Jones Industrial Average futures rose 5 points, or 0.01%. S&P 500 futures gained 0.01%, and Nasdaq 100 futures fell 0.02%.
In extended trading, CrowdStrike Holdings shares dropped more than 6%, after the cybersecurity company posted soft guidance on revenue for the current quarter. Hewlett Packard Enterprise shares popped 3%, after the information technology company topped analysts’ expectations on the top and bottom lines.
Wall Street is coming off a solid session Tuesday, posting back-to-back gains. The 30-stock Dow rose more than 200 points, or 0.5%, for its fourth positive day. The S&P 500 and the Nasdaq Composite did even better, advancing 0.6% and 0.8%, respectively, bolstered by the rise in tech stocks. Nvidia rose nearly 3%, surpassing Microsoft to become the world’s most valuable public company once more.
The recent comeback rally has investors increasingly confident stocks have turned a corner on tariffs, especially after a series of reversals from President Donald Trump convinced traders the White House is mainly wielding high levies as a negotiating tool. A federal court striking down Trump’s tariffs just last week added to hopes the market has priced in the worst of the tariffs, though they were later reinstated temporarily by an appeals court.
The increasingly muted response to trade headlines has more market watchers certain there’s further upside for stocks, especially with cash that remains on the sidelines, and with policy developments more favorable to equities expected later this year. This week, Deutsche Bank’s chief U.S. equity and global strategist Binky Chadha raised his year-end S&P 500 forecast.
“We have a quiet week, and markets are rallying,” Tom Lee, head of research at Fundstrat Global Advisors, said Tuesday on CNBC’s “Closing Bell.” “I think the risk is now of a substantial leg-up rally from here.”
To be sure, others remain wary the full impact of tariff uncertainty is yet to be felt, and that upcoming economic indicators could start to show signs of softening.
Investors will get further insight on the state of the labor market this week, with the ADP private payrolls report due out Wednesday, ahead of weekly jobless claims on Thursday and the big May jobs report Friday. The Federal Reserve’s Beige Book will also be posted Wednesday afternoon.
Earnings season also continues, with Dollar Tree reporting Wednesday morning before the open.