Dow Jones Today: Stock Index Futures Little Changed; Disney and Palantir Tumble Despite Earnings Beats
Stock index futures were little changed before the opening bell Tuesday as investors digest a flurry of earnings reports and await more comments from Fed officials that could provide an indication of when interest rates might be cut.
Futures tied to the Dow Jones Industrial Average and the S&P 500 were each 0.1% higher, while Nasdaq futures were down about 0.1% about 30 minutes before the opening bell. The Dow is on a four-session winning streak, while the other two major indexes have gained for three straight days amid hopes that the Fed could ease policy soon.
Disney (DIS) was in focus Tuesday morning after reporting a net loss caused by billions in charges, though its adjusted results topped analysts’ expectations and the closely-watched streaming business showed significant improvement. Disney shares were down about 8%.
Shares of Palantir (PLTR) plunged 12% ahead of the bell after a disappointing outlook from the data analytics software company offset better-than-expected quarterly earnings.
The yield on 10-Year Treasurys was at 4.46%, continuing a downward move amid expectations that rate cuts could be possible if economic data show that inflationary pressures are receding.
The economic data calendar is light Tuesday, but investors will head from a Fed official. Minneapolis Fed President Neel Kashkari will be speaking at an event around midday.
Stock Futures Mixed
47 minutes ago
Futures contracts connected to the Dow Jones Industrial Average were up 0.1%
S&P 500 futures were also up 0.1%.
Nasdaq 100 futures were down 0.1% about 30 minutes before the opening bell