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U.S. stock index futures rose on Tuesday, recovering some ground after a sharp sell-off in the previous session, as investors awaited key corporate earnings—most notably from Tesla—and looked ahead to a series of speeches by Federal Reserve officials.
Market Snapshot (as of 05:35 ET / 09:35 GMT)
- Dow Jones Futures: ▲ 320 points (+0.8%)
- S&P 500 Futures: ▲ 50 points (+1%)
- Nasdaq 100 Futures: ▲ 180 points (+1%)
This bounce comes after a brutal Monday session where:
- S&P 500 dropped 2.4%
- Nasdaq Composite fell 2.6%
- Dow Jones lost 2.5%
All three indexes have declined more than 9% since April 2, when President Donald Trump first unveiled his plan for sweeping reciprocal trade tariffs, sparking global financial volatility.
Trump-Fed Tensions Continue
Market sentiment remains fragile amid ongoing political pressure on the Federal Reserve:
- Trump called for “preemptive” interest rate cuts, warning of economic slowdown.
- He renewed calls to remove Fed Chair Jerome Powell, though it remains unclear if such a move is legally viable before Powell’s term ends in May 2026.
- Powell, meanwhile, has maintained a wait-and-see stance, citing tariff-linked inflation risks and policy uncertainty.
Tesla Earnings in the Spotlight
Markets are laser-focused on Tesla (NASDAQ:TSLA), the first of the “Magnificent Seven” megacaps to report earnings this quarter.
- Expectations are subdued, with analysts bracing for weaker delivery figures and margin compression.
- The company faces:
- Falling demand
- Rising competition
- Reputational headwinds stemming from CEO Elon Musk’s political visibility and DOGE initiative within the Trump administration.
Investors are eager for updates on:
- The affordable EV launch timeline
- Details on the long-promised robotaxi fleet
Other key earnings today include:
- Lockheed Martin (LMT)
- 3M Company (MMM)
- GE Aerospace (GE)
- Verizon Communications (VZ)
Federal Reserve Watch
Several key Fed officials will speak throughout the day, possibly offering clarity on the interest rate outlook:
- Fed Vice Chair Philip Jefferson
- Minneapolis Fed President Neel Kashkari
- Fed Governor Adriana Kugler
Their remarks could influence expectations ahead of the next FOMC decision on May 7.
Also due is the Richmond Fed manufacturing survey, a regional read on business conditions.
Crude Oil Rebounds After Sharp Losses
Oil prices recovered Tuesday as traders looked past easing supply fears from Iran and instead focused on broader demand dynamics and technical corrections.
- Brent crude: ▲ 1.5% to $67.22/barrel
- WTI crude: ▲ 1.6% to $63.41/barrel
Both benchmarks had slumped over 2% on Monday amid progress in U.S.-Iran nuclear negotiations, which could eventually unlock more Iranian crude for global markets.
Bottom Line
Markets are attempting to stabilize after a turbulent start to the week, with all eyes on Tesla’s earnings and Fed commentary. However, persistent policy uncertainty, particularly regarding Trump’s stance on both trade and monetary leadership, continues to weigh heavily on sentiment.
