Stock market today: Live updates
Traders work on the floor of the American Stock Exchange (AMEX) at the New York Stock Exchange (NYSE) in New York, US, on Thursday, July 16, 2026.
Michael Nagle | Bloomberg | Getty Images
Futures tied to the S&P 500 dropped in early Asian trading on Tuesday, with investors bracing for a big week of megacap earnings and a Federal Reserve rate decision.
S&P 500 futures dipped 0.1% and Nasdaq 100 futures fell 0.5%. Dow futures rose by 30 points, or 0.06%.
Wall Street is coming off a choppy trading session. The 30-stock Dow advanced more than 260 points, or roughly 0.5%, and the S&P 500 eked out a slight gain, helped by a pullback in oil prices following a pause in fighting in the Middle East.
On the other hand, the Nasdaq Composite ended the day down 0.2%, as an unwind in semiconductor stocks weighed on the tech-heavy index.
In Asia, South Korea’s Kospi dropped 10%, dragged by declines in index heavyweights Samsung and SK Hynix. Japan’s Nikkei 225 fell 4% and the Topix declined 2.42%. Australia’s benchmark S&P/ASX 200 was 0.43% higher.
The tension in the market reflects uncertainty ahead of a big week for stocks with earnings results from Amazon, Meta Platforms and Microsoft on the calendar. The chip trade hinges on continued spending from the hyperscalers — even as the megacaps themselves falter. Apple also reports this week.
“We’re going to hear from all of the hyperscalers this week that are going to raise capex further. So those stocks might be under pressure,” Stephanie Link, chief investment strategist at Hightower, told CNBC’s “Closing Bell” on Monday. “That’s good as long as the hyperscalers are spending. That’s helping our economy.”
A Federal Reserve rate decision is due Wednesday. Investors expect that the central bank will remain on hold, but will seek greater clarity on the path forward for monetary policy. Fed funds futures were last pricing in a quarter point hike in September, according to the CME FedWatch Tool.
On Tuesday, traders will monitor the release of a consumer confidence report. Quarterly results from Coca-Cola, UPS, Corning and Boeing are due before the bell.
Investors also will continue to watch oil prices and the bond market. International benchmark Brent crude futures were last below $90 a barrel, amid a pause in fighting between the U.S. and Iran. The U.S. 10-year Treasury yield had pulled back to around 4.65%.
