U.S. stock futures edged higher Tuesday morning, building on Monday's gains, as traders digested a fresh demand from President Donald Trump for lower gas prices and a slew of corporate headlines.
President Trump took to Truth Social on Monday to call on gasoline retailers to cut pump prices immediately, citing a drop in crude oil. "Gasoline Retailers must get their Prices down, IMMEDIATELY," he wrote. "There will be no gauging, which is totally illegal. If Retailers don’t do this, big problems lie ahead! Start targeting around the $2.50 a Gallon number."
Meanwhile, bond yields held steady, with the 10-year Treasury at 4.36% and the two-year at 4.10%. According to the CME Group's FedWatch tool, markets see a 68.5% chance the Federal Reserve leaves rates unchanged at its July meeting.
Here's how the major index futures were shaping up ahead of the open:
The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust ETF (QQQ), which track the S&P 500 and Nasdaq 100, respectively, were both slightly higher in premarket. SPY was up 0.038% at $741.28, while QQQ advanced 0.070% to $724.59.
AeroVironment
- AeroVironment Inc. (AVAV) surged 20.14% after reporting better-than-expected fiscal fourth-quarter results Monday after the close. The company guided for fiscal 2027 revenue of approximately $2.13 billion to $2.23 billion, versus estimates of $2.19 billion. Market data shows AVAV maintains a weak price trend in the short, medium, and long terms.
Jack In The Box
- Jack In The Box Inc. (JACK) jumped 7.23% after successfully refinancing its debt following the issuance of a $500 million note series. Market data indicates JACK maintains a weak price trend in the long term but a strong trend in the short and medium terms, with a poor growth score.
Nike
- Nike Inc. (NKE) was 0.19% higher as analysts expect it to report earnings of 13 cents per share on revenue of $10.86 billion after the closing bell. Market data indicates NKE maintains a weak price trend in the medium, short, and long terms, with a poor quality score.
Constellation Brands
- Constellation Brands Inc. (STZ) was up 0.38% as analysts expect it to report earnings of $3.21 per share on revenue of $2.39 billion after the closing bell. Market data indicates STZ maintains a weak price trend in the long, short, and medium terms, with a poor value score.
Cues From Last Session
Monday was a strong day for stocks, with communication services, consumer discretionary, and information technology sectors leading the S&P 500 higher. Materials and real estate stocks bucked the trend, closing lower.
Insights From Analysts
Jeffrey Buchbinder, Chief Equity Strategist at LPL Financial, remains generally constructive on the U.S. stock market despite recent explosive surges sparking fears of excessive optimism. Analyzing indicators like record margin debt and overbought semiconductor stocks, Buchbinder concludes that while market enthusiasm has significantly increased, it has not "crossed the threshold into outright irrational exuberance." Instead of anticipating a dot-com-style bubble burst, he views the current market climate as "consistent with a mature bull market that may be due for a pause." On the economic front, Buchbinder expects overall landscape durability supported by robust underlying drivers, noting that "strong fundamentals can coexist with shorter-term risks as markets digest gains and adjust expectations." Looking ahead, Buchbinder anticipates a potential near-term consolidation rather than a prolonged market downturn. He advises investors to brace for broader market turbulence as asset prices cool down. Ultimately, Buchbinder counsels that "investors should remain disciplined, expect higher volatility, and be prepared for opportunities" that typically emerge when market sentiment normalizes.
Upcoming Economic Data
Here's what investors will be keeping an eye on Tuesday:
- April's S&P Case-Shiller home price index data will be released by 9:00 a.m. ET.
- June's Chicago business barometer data will be out by 9:45 a.m. ET.
- June's Conference Board consumer confidence index and May's Job Openings and Labor Turnover Survey (JOLTS) data will both be released by 10:00 a.m. ET.
Commodities, Crypto, And Global Equity Markets
Crude oil futures were trading slightly lower in the early New York session, down 0.01% to around $70.75 per barrel. Gold spot rose 0.03% to hover around $4,017.96 per ounce. The U.S. Dollar Index was 0.27% higher at 101.38.
Meanwhile, Bitcoin (BTC) was trading 1.00% lower at $59,157.82 per coin over the last 24 hours.
Asian markets closed mixed on Tuesday, with India's Nifty 50 and South Korea's Kospi falling, while Hong Kong's Hang Seng, Australia's ASX 200, Japan's Nikkei 225, and China's CSI 300 rose. European markets were also mixed in early trade.
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