US stock futures remained stable on Tuesday following a record-breaking day on Wall Street, as investors eagerly awaited a key speech from Federal Reserve Chair Jerome Powell. Futures for the Dow Jones Industrial Average crept up by 0.1%, while contracts for the S&P 500 and the Nasdaq 100 remained largely unchanged.
On Monday, stock prices surged, achieving record highs for the third consecutive day, buoyed by optimism surrounding the burgeoning artificial intelligence sector and expectations of continued monetary easing from the Fed. Powell is slated to speak later today about monetary policy, his first address since the Fed lowered interest rates for the first time in 2025 last week.
Investors are particularly keen on Powell’s remarks, which will precede the release of the Fed’s preferred inflation measure, the Personal Consumption Expenditures (PCE) index, scheduled for Friday. Market analysts are looking for indications that inflation, which has already shown signs of being persistent, is not escalating, as any rise could threaten expectations of additional rate cuts later in the year.
In the tech arena, the Nasdaq significantly outperformed following news that Nvidia plans to invest around $100 billion in OpenAI, prompting a surge in Nvidia’s stock. Oracle shares also climbed after the White House confirmed its proposed involvement in a potential deal with TikTok.
Attention is focused on Micron Technology, which is expected to report its quarterly earnings later today. Analysts anticipate a substantial increase in revenue, projecting nearly a 40% surge in sales driven by AI-related demand.
In other market developments, negotiations for a significant order of 500 Boeing aircraft for China are reportedly in the final stages. This deal, years in the making, is viewed as a potential cornerstone of a renewed US-China trade agreement. US Ambassador to China David Perdue emphasized the order’s magnitude, hinting that it could lead to substantial diplomatic advancements. Boeing shares rose over 2% in premarket trading in response to the news.
In premarket trading, other notable stocks include Kenvue Inc, which rose by 5% after President Trump linked its Tylenol product to autism risks during pregnancy. Boeing also saw a 2% jump, while Micron Technology was up 1% as anticipation builds around its forthcoming earnings announcement.
Meanwhile, gold prices reached a new peak, supported by a robust demand for gold exchange-traded funds, which have hit a three-year high. Market participants appeared unfazed by comments from Fed officials concerning future monetary policy, underlining the precious metal’s appeal amid ongoing economic uncertainty.
