XRX - Wall Street Set To Open Higher As Tesla Kicks Off 'Magnificent 7' Earnings: Why This Analyst Thinks Market Weakness Is A 'Healthy Pullback' | Benzinga
The mood on Wall Street turned tentative on Tuesday as investors awaited earnings reports from the “Magnificent 7,” companies that fueled much of the market’s upside since 2023. Index futures rose slightly in early trading. Asian markets closed mostly higher, while European markets started on a firmer footing. Commodities pulled back, and bond yields held steady.
Earnings from several high-profile names could provide direction. Tesla, Inc. (NASDAQ:TSLA) shares rose modestly from their recent lows, ahead of the company’s earnings due after the close. A positive earnings surprise or optimistic commentary could lift the stock and potentially the broader market.
Futures Performance On Tuesday ( as of 6:20 a.m. EDT)
Futures Performance (+/-)
Nasdaq 100 +0.29%
S&P 500 +0.24%
Dow +0.19%
R2K +0.12%
In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.21% to $500.75, and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.30% to $420.07, according to Benzinga Pro data.
Cues From Past Session:
U.S. stocks snapped a six-session losing streak on Monday as bond yields eased and financial and technology stocks rallied. Positive earnings from some regional banks improved sentiment toward the space and the broader financial sector per se.
After a positive start, the indices trimmed their gains and bottomed in late-morning trading. They launched into a rally but ended off the highs of the session.