Stock futures remain stable as S&P 500 nears its record high: Live updates

U.S. Stock Futures Steady as Markets Wrap Up Recent Gains

Traders were at work on the floor of the New York Stock Exchange.

U.S. stock futures showed minimal changes on Tuesday night. The S&P 500 closed the regular trading session down just under 1% from its peak. Meanwhile, futures connected to the broad market indexes and Nasdaq 100 were slightly lower compared to the previous session. The Dow Jones Industrial Average futures recorded a drop of 17 points, or less than 0.1%.

On Tuesday, the S&P 500 rose by 1.18%, and the Nasdaq Composite also saw gains. Blue-chip companies experienced a rise of 1.96%, with the Dow increasing by 317.74 points, translating to a 0.66% uptick.

The S&P 500 is approaching its historic high of 7,002.28, which was established on January 28th. Remarkably, the index achieved its ninth positive session in ten years on Tuesday, while tech-heavy Nasdaq marked its tenth straight gain. Gains from Monday’s trading helped offset losses experienced since the onset of the Iran conflict in late February.

President Donald Trump commented on Monday that negotiations were being sought with the other side, hinting at rising stock prices as investors contemplated a potential U.S.-Iran deal. He stated, “They very much want a deal.”

On Tuesday, a White House official mentioned to CNBC that discussions for a second round of negotiations were being considered between Washington and Iran. However, this official requested anonymity as no formal plans have been established.

Brent Schutte, who is the chief investment officer at Northwestern Mutual Wealth Management, expressed on CNBC’s “Closing Bell: Overtime” that he feels the conflict isn’t fully resolved yet and there are lingering concerns. He suggested, “Having said that, I think there are a lot of long-term opportunities for investors.” He implied that investors are starting to lean back towards traditional favorites, but the real potential seems to lie in areas that haven’t seen much growth in recent times.

Several companies are set to release their financial results ahead of Wednesday’s market opening. Notable names include Bank of America, Morgan Stanley, PNC Financial, and ASML. Additionally, traders will be watching the import and export price index for March closely.