Stock market today: Dow, S&P 500, Nasdaq futures tread water ahead of tech earnings as tariff deadline looms

US stock futures were flat in Sunday evening trading, as markets entered a critical week defined by megacap earnings and continued risk around President Trump’s looming tariffs.

S&P 500 (ES=F), Nasdaq 100 (NQ=F), and Dow Jones Industrial Average futures (YM=F) all hovered around the baseline, reflecting a cautious tone after last week’s record-setting rally in growth names. The Nasdaq advanced 1.5% last week, while the S&P 500 added 0.6%. The Dow lagged, finishing slightly negative.

Investor focus is dominated by two topics for the upcoming week: policy clarity on trade and earnings from tech heavyweights. On Sunday, Commerce Secretary Howard Lutnick reaffirmed the White House’s Aug. 1 deadline for new tariffs, calling it a “hard stop” for compliance — before saying that he’s looking at continued conversation beyond that date.

Read more: The latest on Trump’s tariffs

Meanwhile, earnings season shifts into high gear with Alphabet (GOOG) and Tesla (TSLA) set to report Wednesday. These names are the first among the so-called “Magnificent Seven” to report this quarter. Strong results could validate stretched valuations as the market’s focus on AI growth is beginning to attract comparisons to historic tech bubbles.

Of the 59 S&P 500 companies that have already reported, 86% have beaten consensus, a historically strong beat rate, albeit off modest expectations.

Read more: Full earnings coverage in our live blog

On the macro front, the June Leading Economic Index is set for release Monday. The data will be closely watched for signs of deceleration or stabilization following a string of weak reads.

Also on deck Monday: Earnings from Verizon Communications (VZ), Cleveland-Cliffs (CLF), and Domino’s Pizza (DPZ).