S&P, Nasdaq futures edge up as earnings deluge takes center stage

Futures tracking the S&P 500 ‌and ​the Nasdaq edged higher on Tuesday, steadying ‌after a precious metals rout in the previous session, as investors geared up for a flood of ​corporate results through the week.

Teradyne shares surged 20.8% in premarket trading after the chip-testing equipment maker forecast first-quarter revenue and profit above analysts’ estimates, citing ‍strong demand tied to multibillion-dollar spending by ​big tech on data-center expansion.

“It’s been a more orderly and calmer affair across markets, with growing signs that traders are ready to re-engage with ​pro-risk positions and ⁠sell equity index volatility,” said Chris Weston, Pepperstone’s head of research.

Alphabet rose 1% after notching a record high in the previous session, while Amazon added 0.6%. Both the “Magnificent Seven” heavyweights are due to report later this week, offering investors another read on the race to commercialize artificial intelligence.

Palantir Technologies jumped 11.1% as investors bet on the company’s military-grade artificial intelligence tools after U.S. defense spending helped drive ‌its quarterly sales.

Recent earnings from the biggest technology companies have underscored a growing investor focus on payback from soaring capital expenditure ​plans. ‌Spending on AI-related infrastructure, including data ‍centers, has climbed sharply, ⁠putting pressure on companies to translate investment into measurable returns that can support lofty valuations.

Advanced Micro Devices and server maker Super Micro Computer, both due to report after the close, gained around 2% each.

Pfizer shares fell 1% despite posting its fourth-quarter profit above estimates, while Merck’s shares were down 1.1% on forecasting 2026 sales below expectations.

PepsiCo’s shares slid 0.8% after the company reaffirmed its annual earnings forecast despite beating revenue estimates for the fourth quarter.

Chipotle Mexican Grill, Cadbury maker Mondelez and household products maker Clorox are scheduled to report after the bell.

Markets will watch for clues on consumer trends from ​earnings reports after last month’s data showed consumer confidence dropped in January to its lowest level in more than 11-1/2 years.

About one quarter of the S&P 500 is set to report quarterly results this week. Analysts expect S&P 500 companies to have grown their earnings nearly 11% in the December quarter, up from an estimate of about 9% at the start of January, according to LSEG data.

At 7:00 a.m. ET, Dow E-minis were down 33 points, or 0.07%, S&P 500 E-minis were up 10.5 points, or 0.15% and Nasdaq 100 E-minis were up 104.25 points, or 0.4%.

On Monday, the S&P 500 and the Dow ended near record levels, while the Nasdaq finished 0.5% higher.