Traders work on the floor of the New York Stock Exchange during afternoon trading on Feb. 5, 2024.
Michael M. Santiago | Getty Images
U.S. stock futures edged higher on Tuesday as the corporate earnings season picked up steam, and investors looked to build on the strong gains from the previous session.
Dow Jones Industrial Average futures climbed 55 points, or 0.2%. S&P 500 futures advanced 0.2%, while Nasdaq 100 futures were up 0.3%.
UPS shares were up 2% in the premarket after the delivery giant posted better-than-expected quarterly earnings. PepsiCo, meanwhile, dipped 0.5% despite reporting better-than-expected earnings. GE Aerospace also reported an earnings beat.
Tesla is slated to report earnings after the bell. Meta Platforms is slated to post results on Wednesday afternoon, followed by Alphabet and Microsoft on Thursday.
Those moves come after a strong session on Wall Street, as investors bought the dip in tech stocks after a recent sell-off in key names such as Nvidia, which had been dinged recently amid fears of higher inflation and the prospect of elevated interest rates.
“A short-term bounce in the market makes a lot of sense here in that, you know, we had a rough week and a half plus, and so now we’re seeing a little bit of a rebound as we go into tech,” Wealth Enhancement Group’s senior portfolio manager Ayako Yoshioka told CNBC’s “Closing Bell” on Monday.
