U.S. stock futures fall following consecutive gains by S&P 500

Stock market futures in the U.S. dipped after the S&P 500 experienced two consecutive days of gains. This decrease in futures came as investors awaited the arrival of a new set of first-quarter earnings reports.

Dow Jones Industrial Average futures showed a decline of 81 points, equivalent to 0.2%. Concurrently, S&P 500 futures and Nasdaq 100 futures both saw a decrease of 0.2% and 0.3%, respectively.

The rise in major stock indexes during Monday’s session was largely driven by the tech sector. This sector received a boost following the announcement from U.S. Customs and Border Protection on Friday regarding exemptions from reciprocal tariffs for electronic devices like smartphones, computers, and semiconductors. However, President Donald Trump and Commerce Secretary Howard Lutnick hinted that these exemptions might only be temporary, potentially affecting the tech industry.

On Monday, the Dow experienced an increase of 312.08 points, equivalent to 0.78%. Similarly, the S&P 500 and Nasdaq Composite rose by 0.79% and 0.64%, respectively.

With the ongoing first-quarter earnings season, this week holds significant importance. Companies such as Bank of America, Citigroup, Johnson & Johnson, and PNC Financial are set to disclose their earnings reports before Tuesday’s trading session begins. Despite this, Brenda Vingiello, chief investment officer of Sand Hill Global Advisors, suggested that this earnings season may not provide clear insights into the impact of Trump’s new tariff policies on companies.

Vingiello mentioned on CNBC’s “Closing Bell: Overtime” that companies might express uncertainty during this earning season. And, while Q1 earnings may have been satisfactory, many questions still remain.

Investors will also be keeping an eye out for the latest import and export price indexes for March. Additionally, the New York Federal Reserve’s Empire State Manufacturing Survey is set to be released on Tuesday.

In terms of the overall stock market outlook, Oppenheimer’s chief investment strategist, John Stoltzfus, emphasized the need for investors to remain patient amid the current uncertainties. Stoltzfus maintained a positive stance on equities, acknowledging the volatility brought about by tariff uncertainties. Nevertheless, he believes that the market is strong and focused on innovation and changes in the global trade landscape, creating a more competitive environment.

Stoltzfus highlighted the resilience of sectors like information technology, communications services, consumer discretionary, financials, and industrials, despite experiencing sell-offs earlier in the year.

Ultimately, the stock market futures opened lower on Monday night, with Dow futures down by about 0.3%, while S&P 500 futures and Nasdaq 100 futures dropped by 0.2% and 0.3%, respectively.