US Stock Futures Tick Higher After S&P 500's Fresh Record
US stock futures edged up after the S&P 500 soared to a new all-time high just before the market close on Tuesday. Futures tied to the S&P 500 (ES=F) and Dow Jones (YM=F) gained 0.1%, while Nasdaq (NQ=F) futures rose 0.2%.
The S&P 500 surged to a record 6,129.58 on Tuesday afternoon, its first new high since January 23rd, despite concerns about President Donald Trump's proposed tariffs, DeepSeek's tech shake-up, and the Federal Reserve's cautious stance on interest rates.
Trump announced plans for new tariffs on automobiles, potentially starting April 2nd, and indicated similar duties on semiconductors and pharmaceutical imports. Meanwhile, Intel (INTC) shares surged after reports of potential deals to split up the chipmaker, while Meta (META) shares declined, ending a 20-day winning streak.
In after-hours trading, AI stocks continued to rally, with Super Micro Computer, Inc (SMCI) and Palantir (PLTR) making significant gains.
On Wednesday, investors await the release of the minutes from the Fed's January meeting, where officials reiterated their support for maintaining current interest rates amid ongoing inflation. Earnings season continues with Etsy (ETSY) and Carvana (CVNA) scheduled to report their results.
Recent Market News
* Asian markets fell, reversing a five-day rally, due to Trump's tariff threats and concerns about Chinese stock rally sustainability.
* HSBC beat market expectations with a 6.6% rise in annual profit, prompting a share buyback announcement.
* Oil prices increased as US-Russian peace talks gained traction, potentially easing oil supply disruptions.