02.02.202623:41:59UTC+00US Futures Edge Higher on Earnings Boost

On Tuesday, futures for both the S&P 500 and Nasdaq 100 showed an uptick, buoyed by positive earnings reports from major technology firms that improved market sentiment. In after-hours trading, Palantir Technologies, a data analytics company, saw its shares rise approximately 6% after surpassing expectations in terms of revenue and earnings. Additionally, Teradyne, a robotics stock, experienced a substantial 23% increase following the issuance of robust guidance for the upcoming quarter. Conversely, NXP Semiconductor's stock dropped by 5% after issuing underwhelming guidance for its Q1 gross margins. Investors are now anticipating a busy schedule of earnings reports due later on Tuesday from noted companies such as AMD, PepsiCo, Pfizer, PayPal, and Chipotle. In Monday's regular trading session, the Dow Jones Industrial Average rose by 1.05%, the S&P 500 climbed 0.54%, and the Nasdaq Composite increased by 0.56%. The rally was led by technology and artificial intelligence infrastructure stocks, with significant performances from Apple (rising 4.1%), Micron (up 5.5%), and Sandisk (soaring 15.4%). Meanwhile, Nvidia's shares decreased by 2.9% due to ongoing uncertainty surrounding its stalled $100 billion investment in OpenAI.