Traders work on the floor of the New York Stock Exchange moments before the Closing Bell and the start of President Donald Trump’s news conference on tariffs on April 02, 2025 in New York City.
Spencer Platt | Getty Images
Stock futures ticked lower on Tuesday evening, as investors awaited earnings releases from several big banks and the latest wholesale inflation report.
Futures tied to the Dow Jones Industrial Average pulled back 105 points, or 0.2%, while S&P 500 futures lost almost 0.3%. Nasdaq 100 futures slipped 0.3%.
In the regular trading session, the S&P 500 lost 0.4% and the Dow fell more than 400 points. The Nasdaq Composite outperformed, however, rising about 0.2% and posting a record close. The tech-heavy index got a boost from shares of Nvidia, which rose 4% after the company said it hopes to resume its H20 AI chip sales to China “soon.”
June’s consumer inflation report weighed on markets Tuesday, with the headline figures showing a 0.3% increase on the month and a 12-month rate of 2.7%, in line with the Dow Jones consensus.
The reading has fueled some concern for Wall Street, showing the impact of President Donald Trump’s tariffs as they make their way through the economy. Trump over the weekend fanned the flames of his trade war after he announced a 30% tariff on imports from Mexico and the European Union beginning Aug. 1.
“Inflation has started a slow climb as signs of tariff-induced inflation are now evident within durable and nondurable imports,” said Joe Brusuelas, chief economist at RSM U.S. “That prompts an important question: Will service and housing inflation, which is easing but still elevated, cool further to offset what will be a more pronounced increase in durable and nondurable goods?”
“Our sense is that the Federal Reserve will continue to display patience as the direction of inflation evolves,” he added.
Investors will get another inflation reading on Wednesday as June’s producer price index report rolls out. Dow Jones consensus estimates call for a 0.2% increase on a month-to-month basis. Several central bank representatives will be speaking as well, including Richmond Fed President Thomas Barkin and Fed Governor Michael Barr.
On the earnings front, major banks continue to report with Bank of America, Goldman Sachs and Morgan Stanley sharing details before the bell. Results from Johnson & Johnson are also on deck.
Trump says crypto regulation bills that failed to advance earlier now have the votes to move forward
President Donald Trump said Tuesday that a group of House Republicans who blocked several cryptocurrency regulation bills from moving forward earlier in the day had changed their minds following a White House meeting, and would now vote to advance the legislation.
“I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule,” Trump wrote on Truth Social shortly before 9 p.m. ET.
Trump said that House Speaker Mike Johnson called into the meeting and “looks forward to taking the Vote as early as possible.”
It was a dramatic, quick rebound for the Trump-supported pieces of legislation, which just hours before had faced an uncertain path forward, after the bills failed to clear a key procedural hurdle.
Read the full story here.
— Erin Doherty
Shares of asset managers rise on WSJ report that Trump could pave the way for private market investments in 401(k)s
The Wall Street Journal, citing people familiar, reported Tuesday that the Trump administration is nearing an executive order that would make private market investments more readily available in 401(k) plans.
The Journal reported that this order would call on the Labor Department and Securities and Exchange Commission to provide employers and plan administrators with guidance on including these private assets.
Shares of asset managers that operate in the private market space advanced in extended trading, with Apollo Global adding 2% and KKR rising 1.7%.
—Jason Gewirtz, Darla Mercado
Stocks making the biggest moves after hours
Check out some of the companies making headlines in extended trading.
- Global Payments — Shares of the financial technology company advanced roughly 5%. The movement came after a Financial Times report that said activist investor Elliott Management added to its stake in Global Payments.
- Hancock Whitney — The bank holding company slid more than 3% in extended trading. Adjusted earnings for the second quarter came in at $1.37 per share, falling short of the FactSet consensus estimate of $1.36 per share. Net interest income landed at $279.5 million, narrowly beating analysts’ call for $277.7 million.
- Omnicom Group — The marketing and sales stock gained more than 2% after second-quarter results surpassed analyst estimates on the top and bottom line. Omnicom reported earnings per share of $2.05, excluding items, on revenue of $4.02 billion. Analysts surveyed by FactSet were looking for $2.02 per share and $3.98 billion.
Read the full list here.
— Brian Evans
Stock futures are little changed
Stock futures were little changed on Tuesday evening, with investors awaiting fresh corporate earnings and inflation data.
Futures tied to the Dow Jones Industrial Average pulled back 47 points, or 0.1%, while S&P 500 futures dipped 0.1%. Nasdaq 100 futures slipped 0.1%.
— Brian Evans
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