Stock futures are little changed as S&P 500 approaches its all-time high: Live updates
Traders work on the floor of the New York Stock Exchange.
NYSE
U.S. stock futures were little changed on Tuesday night as the S&P 500 ended the day’s regular session less than 1% from its all-time high.
Futures tied to the broad market index and Nasdaq 100 futures were last trading marginally lower. Dow Jones Industrial Average futures fell by 17 points, or less than 0.1%.
On Tuesday, the S&P 500 rose 1.18%. The Nasdaq Composite gained 1.96%, while the blue-chip Dow advanced 317.74 points, or 0.66%.
The S&P 500 is nearing its all-time high of 7,002.28, reached on Jan. 28. Tuesday marked the index’s ninth positive session in 10, while the technology-heavy Nasdaq also posted its 10th straight session of gains. The S&P 500’s Monday advance erased its losses dating back to when the Iran conflict began in late February.
Investors sent stocks higher on the potential of a deal between the U.S. and Iran materializing, with President Donald Trump saying on Monday that “We’ve been called by the other side.” He added: “They’d like to make a deal very badly.”
On Tuesday, a White House official told CNBC that a second round of negotiations between Washington and Tehran is under discussion. Nothing has been officially scheduled yet, noted the official, who asked not to be named to discuss the administration’s internal plans.
“I don’t think we’re done with the conflict yet. I think there are plenty of concerns still out there,” Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management, said on CNBC’s “Closing Bell: Overtime” on Tuesday afternoon.
“That being said, I do think there are plenty of long-term opportunities for investors to lean into … now you’re seeing investors run back to their favorites, which I think going forward, especially for an intermediate to long-term investor, the opportunities are in things that haven’t done as well the past few years in this narrow market that we’ve had,” he added.
A slew of companies will report earnings before Wednesday’s opening bell, including Bank of America, Morgan Stanley, PNC Financial and ASML. Traders will also watch out for March’s import and export price indexes.
