U.S. stock futures were volatile on Tuesday following a two-day advance. Futures of major benchmark indices were mixed in premarket.
Donald Trump hinted at helping the car companies while talking to reporters in his Oval Office on Monday. He explained that automakers require a transition period to shift production from Canada, Mexico, and elsewhere.
“And they need a little bit of time because they’re going to make them here, but they need a little bit of time. So I’m talking about things like that,” he said.
Stocks advanced for two consecutive days after he exempted smartphones, computers, and semiconductors from the reciprocal tariffs on Friday. However, he hinted that he may look at levying duties on the chips imported into the U.S. on Sunday in a Truth Social post.
The 10-year Treasury bond yielded 4.38% and the two-year bond was at 3.86%. The CME Group’s FedWatch tool‘s projections show markets pricing an 82.7% likelihood of the Federal Reserve keeping the current interest rates unchanged in its May meeting.
| Futures | Change (+/-) |
| Dow Jones | -0.03% |
| S&P 500 | 0.08% |
| Nasdaq 100 | 0.25% |
| Russell 2000 | -0.12% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose in premarket on Tuesday. The SPY was up 0.013% to $539.19, while the QQQ advanced 0.22% to $458.47, according to Benzinga Pro data.
Cues From Last Session:
Led by technology stocks, U.S. equities closed higher on Monday. Apple Inc. (NASDAQ:AAPL) shares surged 2.2%, and Dell Technologies Inc. (NYSE:DELLL) gained approximately 4%, contributing to a roughly 1% rise in the Technology Select Sector SPDR Fund (NYSE:XLK).
Financials presented a mixed picture, with Goldman Sachs Group Inc. (NYSE:GS) reporting stronger-than-anticipated first-quarter earnings, while M&T Bank Corporation (NYSE:MTB) posted weaker-than-expected results.
Real estate, utilities, and consumer staples sectors recorded the most significant gains on Monday. Conversely, consumer discretionary stocks trended lower.
As of Monday’s close, the Dow Jones index was 10.1% lower than its 52-week high of 45,073.63 points. The S&P 500 index …