UAA - Futures Little Changed as Stocks Veer to New Records

Stock futures were basically flat in early morning trading on Tuesday after the S&P 500 eked out a fresh record close on Monday to kick off November.

Futures for the Dow Jones Industrials gained 31 points, or 0.1%, to 35,831.

Futures for the S&P 500 nicked higher 1.25 points to 4,607

Futures for the NASDAQ Composite Index faded 27.75 points, or 0.2%, to 15,866.50.

All three major U.S. stock indexes hit new intraday highs and closed at records during Monday's regular session as investors continue to bet on a year-end rally despite supply chain issues, COVID risk and a Federal Reserve that's about to indicate it's going to pull back on some stimulus. The Fed's two-day meeting begins Tuesday.

Tesla shares cooled off Tuesday after popping during the end of October. Shares of the electric automaker tumbled 5% pre-market, though they are up 55% over just the past month.

The drop follows a report that the carmaker is recalling 11,700 of its vehicles due to a communications error, and a tweet from company founder Elon Musk that Tesla has yet to sign a contract with rental giant Hertz.

Pfizer shares were up 1.8% in pre-market trading after the drug maker's third-quarter profit topped expectations. It also raised its 2021 revenue and EPS outlook.

Shares of materials giant DuPont de Nemours fell nearly 4% after the company said it is buying engineering materials technology maker Rogers Corp for $5.2 billion. DuPont also reported a 33% increase in adjusted third-quarter earnings.

Under Armour shares soared nearly 10% after the athletic retailer hiked its annual outlook.

Overseas, in Japan, the Nikkei 225 fell 0.4% Tuesday, while in Hong Kong, the Hang Seng gave back 0.2%.

Oil prices dipped 70 cents to $84.24 U.S. a barrel.

Gold prices tumbled $5.20 to $1,790.60 U.S. an ounce.