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Futures dip as focus moves to tech earnings

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Growth Stocks,Big Tech,Vice President Kamala Harris

With investors returning to megacap growth stocks on Monday, the S&P 500 and the Nasdaq snapped a three-day losing streak and logged their biggest one-day...

- U.S. stock index futures slipped on Tuesday ahead of results from some Big Tech companies expected later in the day that will be parsed to see whether the market's recent record-breaking run is sustainable.

Results from Big Tech companies will be key to determine whether U.S. stocks are overvalued or have more room for growth.Alphabet and Tesla, two of the so-called "Magnificent Seven" are set to report quarterly results after market close. Both the shares were up around 0.3% each in a largely mixed premarket session for the group of stocks.

Other companies reporting results before the bell include General Motors, United Parcel Service, Coca-Cola and Philip Morris International. Bets of a 25-basis point interest rate cut by September have shot up to nearly 92% from the near 60% seen last month, according to CME's FedWatch Tool, with two rate cuts seen by the year end.At 5:17 a.m. ET, Dow e-minis were down 4 points, or 0.01%, S&P 500 e-minis were down 8.25 points, or 0.15%, and Nasdaq 100 e-minis were down 63 points, or 0.31%.

 

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