Key Moments
- U.S. index futures traded higher, with Dow futures up 274 points, S&P 500 futures up 24 points, and Nasdaq 100 futures up 105 points by 07:16 ET (11:16 GMT).
- Amazon shares gained more than 2% after the company said it will invest up to $25 billion in AI startup Anthropic, lifting several of its suppliers.
- 3M declined on weaker-than-expected quarterly organic growth, while UnitedHealth advanced after issuing an upbeat annual outlook.
Futures Climb Ahead of Fed Hearing and Geopolitical Developments
U.S. equity futures traded higher on Tuesday as investors monitored uncertainty related to potential peace talks in the Middle East and prepared for a Congressional confirmation hearing for Federal Reserve chair nominee Kevin Warsh.
| Contract | Move (points) | Change (%) | Time (ET) |
|---|---|---|---|
| Dow futures | +274 | 0.6% | 07:16 |
| S&P 500 futures | +24 | 0.3% | 07:16 |
| Nasdaq 100 futures | +105 | 0.4% | 07:16 |
Major Premarket Movers
Leadership Changes and Tech Moves
Apple shares traded slightly lower after the iPhone maker said that Tim Cook will move into the role of executive chairman and John Ternus will assume the position of chief executive officer.
Amazon rose by more than 2% in premarket trading after the e-commerce group announced plans to invest up to $25 billion in AI startup Anthropic.
Suppliers to Amazon, including Marvell Technology, Credo Technology and Astera Labs, also advanced following Amazon’s investment announcement.
Industrial and Healthcare Names Diverge
3M moved lower after the Scotch tape producer reported quarterly organic growth that came in below expectations.
UnitedHealth traded higher after the healthcare company released a positive annual outlook, supporting the narrative surrounding a business that has been pursuing a long-running turnaround effort.
Airlines Under Pressure From Fuel Costs
Alaska Air declined after the airline withdrew its full-year guidance, pointing to the hit from elevated fuel prices. Carriers have been facing uncertainty from fuel costs that have come under upward pressure due to the Iran war.
Retail, Defense, and Social Media Stocks
Tractor Supply slipped after the company reported first-quarter comparable sales that fell short of expectations.
Defense group Northrup Grumman edged lower even though it delivered first-quarter revenue that exceeded forecasts and reaffirmed its outlook for 2026.
RTX Corp traded modestly higher after the defense company raised its profit and revenue projections.
Reddit inched up after DA Davidson analysts began coverage of the social media platform with a “buy” rating.
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