Dow Set to Open Up as Market Continues Winning Streak
Stock futures were rising early Tuesday after two of the three big indexes completed a five-day winning streak. A raft of company earnings from the likes of Coca-Cola, General Motors, and Pfizer will determine if the run can continue.
Tuesday also marks the first 100 days of President Donald Trump’s second term, and they have been up-and-down for stocks. After hitting records in February, the introduction of tariffs pushed shares sharply lower, though a delay while trade deals are negotiated has helped over the past week.
Trump is expected to announce some changes to his auto tariff policies. The announcement could come at a rally in Warren, Michigan, slated to start around 6 p.m. Eastern time.
The S&P 500 and Dow Jones Industrial Average are sitting on their longest string of daily gains this year. The technology-heavy Nasdaq only barely missed out on another win Monday.
Futures tracking the Dow added 109 points, or 0.3%, before the market opened. S&P 500 futures also gained 0.3%, and contracts tracking Nasdaq 100 rose 0.4%.
The earnings news picks up further after today, with Apple, Amazon, Microsoft, and Meta Platforms reporting Wednesday and Thursday. There will also be influential data for inflation, gross domestic product, and jobs later in the week.
All these reports will be interesting for showing the state of the economy in the first quarter, but they are backward looking, and may also not have much to say about the impact of tariffs announced in April. Company forecasts and guidance are thus taking on particular importance.
Yields on government bonds were slightly higher after falling yesterday.
The benchmark 10-year Treasury was at 4.239%, compared with 4.258% at this time yesterday. The 2-year note was at 3.719%.
The dollar index, a measure of the greenback against a basket of peers, was rising, though it’s still down almost 9% since the start of the year.