US stock futures drifted up after the S&P 500 reached a fresh record in a dramatic rally just 10 minutes before market close.
Futures attached to the S&P 500 (ES=F) and Dow Jones (YM=F) inched up .01%, while Nasdaq (NQ=F) futures moved up 0.2%. After a mostly quiet day
AI continues to push stocks higher in after-hours trade. Super Micro Computer, Inc (SMCI) pushed up more than 3% on futures open, while Palantir (PLTR) flirted with an all-time high in after-market moves.
On Wednesday, investors are anticipating the release of the minutes from the Fed’s January meeting. Fed officials reiterated their strong support for keeping interest rates at their current levels amid stubborn inflation over the weekend.
‘s return from an extended weekend, the S&P 500 popped on Tuesday afternoon to close at a record high of 6,129.58. It was the first time the index hit a new high since Jan. 23. amid a backdrop of new tariffs from President Donald Trump, DeepSeek’s tech shake-up, and the Federal Reserve’s cautious stance on interest rates.
Trump on Tuesday said to expect new tariffs on automobiles starting as soon as April 2. A flat tariff “in the neighborhood of 25%” would apply to all foreign automakers selling in US markets, the president said. Trump also indicated similar duties would be imposed on semiconductors and pharmaceutical imports.
Intel (INTC) stock posted its biggest five-day gain in company history on Tuesday following a report that two of its rivals are exploring potential deals that would split up the chipmaker. Meta’s (META) stock, meanwhile, fell, ending its 20-session winning streak on Wall Street.
