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Dow Hoping to Build on 11-Day Rally

U.S. stock futures were little changed Tuesday after the Dow Jones Industrial Average registered its longest winning streak since February 2017.

Futures for the 30-stock index crept up nine points to 35,590.

Futures for the S&P 500 eked up four points to 4,587.50.

Futures for the NASDAQ vaulted 45.75 points, or 0.3%, to 15,607.

General Motors shares rose more than 1% after the automaker hiked its full-year earnings guidance. General Electric also climbed 4% on the back of stronger-than-expected revenue for the second quarter.

Mega-cap tech names Alphabet and Microsoft are scheduled to announce their quarterly results after the close. Wall Street will also look at July’s consumer confidence data.

While a stronger-than-expected earnings season has helped maintain the market rally, Wall Street is also carefully awaiting the Federal Reserve’s policy decision on Wednesday. Fed fund futures data shows a 98% probability of a quarter-point hike. Investors are waiting for Chair Jerome Powell’s statements on his outlook for the economy as it tackles inflation.

In Japan, the Nikkei 225 fell back 0.1%. while in Hong Kong, the Hang Seng raced ahead 4.1%.

Oil prices dipped 0.02 cents to $78.72 U.S. a barrel.

Gold prices slipped $1.30 to $1,960.80. U.S. an ounce.

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