Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell on July 18, 2025, in New York City.
Angela Weiss | AFP | Getty Images
S&P 500 futures were little changed Tuesday evening after President Donald Trump announced the U.S. had reached a trade deal with Japan.
Futures linked to the broad market index were up 0.10% , while Dow Jones Industrial Average futures added 70 points, or 0.16%. Nasdaq 100 futures were near the flatline.
Stock futures briefly turned slightly higher Tuesday night after Trump said in a Truth Social post that the U.S. had completed a “massive Deal” with Japan. The agreement includes “reciprocal” tariffs of 15% on the nation’s exports to the U.S.
Those moves follow a second straight day concluding at a high for the S&P 500, which inched up 0.06% in the session. Tuesday marked the 11th closing record of 2025 for the benchmark index. The 30-stock Dow climbed nearly 180 points in the session. The tech-heavy Nasdaq Composite, on the other hand, fell about 0.4% as chip stocks took a hit.
“There’s not a lot of optimism,” said Ryan Detrick, chief market strategist at Carson Group, on CNBC’s “Closing Bell.” But, “we said there’d be a summer rally. It wasn’t popular. It’s happening. We think it’s not over yet,” he added.
Investors are awaiting earnings from Alphabet and Tesla expected Wednesday after the bell. They are the first reports of the earnings season from the megacap technology sector, a group that’s been closely watched given its market leadership in recent years.
Beyond big tech, investors will also monitor reports from Hasbro before the bell, followed by Chipotle Mexican Grill and Mattel after the market closes. These releases come amid a busy earnings week. Of the approximately 17% of S&P 500 companies that have reported so far this season, about 85% have posted earnings that surpassed Wall Street’s expectations.
On the economics front, traders will follow existing home sales data due Wednesday morning.
