Stock futures were little changed on Monday night after the S&P 500 and Nasdaq Composite hit fresh records.
Futures tied to the Dow Jones Industrial Average
40 points, or nearly 0.1%.
S&P 500 futures
added 0.05%, while
Nasdaq 100 futures
gained 0.01%.
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In the
previous session
, the
S&P 500
rose about 0.1% and the
Nasdaq Composite
advanced nearly 0.4%. Both indexes hit new all-time intraday highs and closed at records, aided by a pre-earnings jump in
Alphabet
. The
Dow
underperformed and ended the day marginally lower.
Investors are turning to a big week for second-quarter financial results. So far, more than 60 S&P 500 companies have reported, with more than 85% of those topping analysts’ estimates, according to FactSet data. Eyes are on commentary from companies about macroeconomic certainty, the impact of tariffs and details on demand and spending related to artificial intelligence.
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Philip Morris International
,
Coca-Cola
and
Lockheed Martin
are just a few of the companies on deck to report earnings results on Tuesday. Google parent Alphabet and
Tesla
will report Wednesday, kicking off highly anticipated results from the “Magnificent Seven” companies. The mega-cap tech companies are expected to contribute to a significant amount of earnings growth this season.
Given the recent rally in stocks, investors are watching for how far the market can run, with some commenting that valuations already appear stretched. Cetera Investment Management chief investment officer Gene Goldman said that “much of the good news appears to be priced in, leaving little margin for error.”
“Markets may have rallied too far, too fast,” Goldman added. “After dipping after ‘liberation day’ to 4,982, the S&P bounced back sharply, in fact – the recovery has been the fastest in nearly 50 years even as 2025 earnings expectations were nearly halved.”
Money Report
Asia-Pacific markets rise after Wall Street benchmarks hit record highs
Jim Cramer names stocks hyped up by retail investors that are set to keep running
On the economic front, traders will be monitoring
Federal Reserve
Chairman Jerome Powell’s comments at an event in Washington on Tuesday morning.
Semafor reports Goldman Sachs is hunting for acquisitions, Northern Trust shares jump
Goldman Sachs
CEO David Solomon held talks about a $25 billion takeover of wealth management firm Northern Trust earlier this year and almost closed a $6 billion deal for Cliffwater, Semafor
reported
on Monday evening, citing people familiar with the matter. Shares of
Northern Trust
jumped more than 4% on the report.
According to Semafor’s report, Goldman has also looked into deals related to low-fee ETFs, where the firm has struggled to grow. The firm’s push into these areas comes after its
failed consumer banking ambitions
.
Shares of Goldman are up more than 23% this year.
— Pia Singh
NXP Semiconductors, Steel Dynamics moving on earnings results
Take a look at companies making moves after Monday’s close:
-
NXP Semiconductors
saw shares fall more than 5% after the company reported a decline in sales for the second quarter, hurt by slow demand in the automotive market. NXP still beat on top and bottom lines, however. The company posted adjusted earnings of $2.72 per share on revenue of $2.93 billion. Analysts polled by LSEG expected earnings of $2.67 per share on revenue of $2.90 billion.
-
Steel Dynamics
posted lackluster financial results for its second quarter, leading shares down by roughly 3.4%. The company reported earnings of $2.01 per share on revenues of $4.57 billion. Analysts polled by LSEG called for earnings of $2.10 per share and revenue of $4.76 billion.
-
Shares of regional bank
Zions Bancorp
rose 2.4%. Zions posted second-quarter earnings of $1.63 per share, exceeding analysts’ consensus estimate of $1.31 per share, per LSEG. Zions’ CEO Harris Simmons said, “We’re incrementally more optimistic about growth in the back half of the year than we’d previously been.”
— Pia Singh
Stock futures open little changed Monday evening
Shortly after 6 p.m. ET,
futures tied to the Dow Jones Industrial Average
climbed 53 points, or about 0.1%.
S&P 500 futures
and
Nasdaq 100 futures
opened slightly above the flatline.
— Pia Singh
Also on CNBC
-
Nasdaq 100 momentum unmatched since 1999 so brace for a shakeout, says BTIG
-
This big bank stock still has upside ahead despite its 20% year-to-date rally, investor says
-
This is one of the most attractive opportunities for income, Vanguard says
