On Tuesday, U.S. stock futures hovered near the flatline following the S&P 500 and Nasdaq reaching new record highs the previous day. Market participants are closely watching developments in tariff negotiations and assessing recent corporate earnings reports. The United States is actively engaged in trade discussions with major partners, including Japan, Thailand, and Malaysia. There is potential for the administration to issue further unilateral tariff announcements, and additional trade agreements could be finalized before the upcoming August 1st deadline.
In corporate earnings, Coca-Cola experienced a slight dip of 0.2% in premarket trading, despite exceeding expectations in both earnings and revenue. Philip Morris saw a notable decline of nearly 4% after reporting disappointing revenue figures. Danaher shares also fell by 1.6%, as their reported results failed to meet investor expectations. Furthermore, Lockheed Martin experienced a significant plunge of over 7% pre-opening bell due to underwhelming earnings and revenue figures, and General Motors dropped 3.6% after cautioning about a more substantial impact from tariffs in the second half of the year.
