US stock futures saw slight gains following a record high set by the S&P 500 during a dramatic rally just 10 minutes before the market closed.
Futures for the S&P 500 (ES=F) and Dow Jones (YM=F) rose by 0.01%, while Nasdaq (NQ=F) futures gained 0.2%.
The market experienced a quiet day after the extended weekend, but the S&P 500 surged in the afternoon on Tuesday, closing at a new record high of 6,129.58. This marked the first time the index hit a new high since January 23. The rally occurred amid a backdrop of new tariffs announced by President Donald Trump, a shake-up in DeepSeek’s tech sector, and the Federal Reserve’s cautious approach to interest rates.
Tariffs and Market Reactions
President Trump stated on Tuesday that new tariffs on automobiles could take effect as soon as April 2. A flat tariff of approximately 25% would be imposed on all foreign automakers selling in U.S. markets. Trump also suggested similar tariffs could be applied to semiconductors and pharmaceutical imports.
Intel (INTC) shares posted their biggest five-day gain in company history on Tuesday, following a report that two of its rivals were exploring potential deals to break up the chipmaker. In contrast, Meta (META) shares fell, ending its 20-session winning streak on Wall Street.
After-Hours Trading and Market Outlook
Artificial Intelligence (AI) stocks continued to push the market higher in after-hours trading. Super Micro Computer, Inc. (SMCI) gained more than 3% during the futures open, while Palantir (PLTR) neared an all-time high in after-market trading.
Investors are eagerly awaiting the release of the Federal Reserve’s meeting minutes from January, scheduled for Wednesday. Fed officials have consistently expressed strong support for keeping interest rates steady, despite ongoing inflation concerns.
Earnings Reports to Watch
The earnings season continues, with Etsy (ETSY) and Carvana (CVNA) set to release their quarterly reports on Wednesday.
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