Stock futures are higher Tuesday morning as investors digest earnings reports from several retailers and await results from technology companies after the bell.
Futures tied to the S&P 500 and Nasdaq were each up 0.3%, while those linked to the Dow Jones Industrial Average were down less than 0.1%. Stocks started the week on a high note, with the Dow setting a record closing high and the S&P 500 finishing higher for the sixth straight day.
Retailers were among the big movers on Tuesday morning. Shares of Dick’s Sporting Goods (DKS) were up 8% after the company reported strong quarterly results, while Best Buy (BBY) and Kohl’s (KKS) were down 3% and 17%, respectively, after releasing their earnings reports. Kohl’s also announced late yesterday that CEO Tom Kingsbury is stepping down after less than two years in the role.
A slew of quarterly reports from notable tech companies are scheduled for later today, the last flurry of earnings news before the Thanksgiving holiday. Dell Technologies (DELL), CrowdStrike (CRWD), Workday (WDAY), and HP (HPQ) are all slated to release results.
Large-cap tech companies were higher across the board in premarket trading, led by shares of AI investor darling Nvidia (NVDA), which were up 1% after sliding more than 4% yesterday. Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOGL), Meta Platforms (META) and Tesla (TSLA) were also gaining ground.
Bitcoin (BTCUSD) was trading at around $92,000, sliding for the second straight day after hitting a record high of just below $100,000 on Friday.
Gold futures were up 0.5% at around $2,630 an ounce, recovering some of the previous session’s losses, while oil futures also tacked on about 0.5%.
The yield on 10-year Treasurys was up slightly at 4.28%, after a big decline yesterday sent yields to their lowest levels since early November. Yields had been rising steadily for several weeks as market participants recalibrated their expectations about how aggressive the Federal Reserve would be in cutting interest rates.