Wall Street futures edged upward on Tuesday as traders wrapped up the last day of a quarter that produced some of the most impressive stock market gains in recent memory.
Several closely watched economic reports are expected to draw attention throughout the day, including the JOLTS job openings data and the Conference Board’s consumer confidence index.
Despite an unsettled global environment — marked by geopolitical tensions, a spike in oil prices, and worries about artificial intelligence spending — stock markets have managed to hold their ground.
Both the S&P 500 and the Nasdaq Composite are on track to record their strongest quarterly performance in six years. The blue-chip Dow Jones Industrial Average is also heading toward its largest quarterly gain since 2022.
However, recent softness in the market has put the S&P 500 and Nasdaq on course to break two consecutive months of gains in June. The Dow has fared comparatively better and appears set to notch a third straight month of positive returns.
Many analysts are looking to the approaching earnings season as a potential catalyst to lift stocks — particularly following last week’s sharp selloff in semiconductor and technology shares.
“Technology has been experiencing a period of June gloom, but that could easily reverse as earnings season approaches,” said Brian Levitt, chief global market strategist at Invesco.
Some market watchers, however, caution that any significant rally in the second half of the year may hinge on whether negotiations to resolve the U.S.-Iran conflict produce meaningful results.
According to data from LSEG, traders are currently pricing in at least one interest rate increase from the Federal Reserve before the end of 2026. Investors are also monitoring remarks from Fed Chair Kevin Warsh, who is scheduled to speak at a prominent economic conference in Portugal on Tuesday.
As of 7:15 a.m. ET, Dow E-minis had gained 107 points, or 0.2%. S&P 500 E-minis were up 15.75 points, or 0.21%, and Nasdaq 100 E-minis climbed 102.5 points, or 0.34%.
“Whether the price action is noise or signal will become clearer in the coming days — perhaps weeks — and will depend on a balance of geopolitical risks, U.S. rate uncertainty and the earnings outlook,” said Kyle Rodda, senior financial market analyst at Capital.com.
In premarket trading, shares of Concentrix tumbled 22.7% after the customer experience company slashed its forecasts for full-year revenue and adjusted profit. On the other end of the spectrum, AeroVironment surged 30% following a strong jump in quarterly revenue.
Shares of Morgan Stanley and Goldman Sachs slipped 1.2% and 0.5%, respectively, after brokerage firm Oppenheimer downgraded major Wall Street investment banks, urging investors to shift capital toward alternative asset managers instead.
