FX.co ★ US Futures Rise to Records

US stock futures extended their rally to fresh record highs on Tuesday, supported by signs of a more favorable macroeconomic backdrop and anticipation around key earnings that will update investors on the AI trade. S&P 500 futures climbed 0.4% to a new all-time high, while Dow Jones Industrial Average futures jumped 600 points, lifting the index above 53,800 for the first time. Nasdaq futures advanced 0.8%.

Energy markets eased, with fuel and natural gas prices declining after Qatar indicated progress toward a short-term agreement between the US and Iran. The prospect of such a deal helped temper inflation concerns and kept benchmark Treasury yields anchored after their recent pullback.

In corporate news, Palantir surged more than 15% after the company raised its outlook on the back of robust commercial sales. Industrial bellwether Caterpillar gained nearly 10% after posting earnings that topped analysts’ expectations.

Among AI hyperscalers, performance was mixed following yesterday’s strong gains, which extended a renewed phase of outperformance for AI infrastructure names and marked a reversal from the trend seen in late June. AMD and SpaceX were scheduled to report results after the closing bell.