U.S. stock futures edged lower early Tuesday following a robust second-quarter rally that saw the S&P 500 and Nasdaq reach new record highs in the final days of June. The strong performance marked the best quarterly gain for major indexes in more than a year, driven by growing optimism over international trade progress and recent legislative victories.
At 6 a.m. ET, futures for the Dow Jones Industrial Average dipped 0.12%, while S&P 500 futures fell 0.26% and Nasdaq futures declined 0.35%.
The rally was largely supported by investor confidence in the U.S. economy and optimism around ongoing trade negotiations, particularly with China and Canada. Momentum was also fueled by the passage of President Trump’s sweeping tax and spending legislation, dubbed the “One Big Beautiful Bill,” which boosted market sentiment in the final days of the quarter.
Eyes on the Labor Market
Market participants are now shifting their focus to key economic indicators, starting with the Job Openings and Labor Turnover Survey (JOLTS), which will be released at 9 a.m. ET. The report provides a snapshot of the U.S. labor market, tracking job openings, hiring, resignations, and layoffs. It is closely watched by economists and the Federal Reserve for signals on labor market strength and wage pressure.
Corporate Highlights
In corporate news:
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Progress Software reported mixed second-quarter results. While the company’s revenue fell short of Wall Street expectations, earnings per share came in above forecast.
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AeroVironment, a defense and robotics technology firm, announced plans to raise $750 million through a public offering of common stock, alongside $600 million in convertible senior notes due in 2030. The company said the proceeds will be used to reduce existing debt and strengthen its balance sheet.
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Circle Internet Group, a key player in the cryptocurrency and financial tech space, has formally applied for a bank charter with the Office of the Comptroller of the Currency (OCC), according to a report by Reuters. If approved, the move would allow Circle to expand its financial services and operate as a full-fledged U.S. bank.
As the second half of the year begins, investors will continue to monitor economic data, corporate earnings, and geopolitical developments to gauge the sustainability of the market’s recent gains.
