U.S. stocks hold near records as Dow futures ease after 52,000 close

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U.S. stocks hold near records

Highlights

Dow futures slip 26 points, or less than 0.1%, after the index hit a record 52,000 close, as S&P 500 and Nasdaq 100 futures both dip about 0.1%.
Recent rally driven by U.S.-Iran de-escalation allowing commercial vessels through the Strait of Hormuz, with S&P 500 up 1.18% and Nasdaq Composite up 2.07%.
AeroVironment surges 19% after-market following Q4 adjusted earnings of $1.84 per share and $642 million revenue, both beating LSEG estimates.

Futures pause after record-setting session

As reported by CNBC, futures tied to the Dow Jones Industrial Average are little changed on Monday night after the blue-chip index reaches a new record close in the regular session. Dow futures fall by 26 points, or less than 0.1%, while S&P 500 futures and Nasdaq 100 futures both dip about 0.1%.

The rally in cash trading is driven in part by easing geopolitical concerns after the U.S. and Iran agree on Sunday to halt attacks and allow commercial vessels to pass through the Strait of Hormuz. A U.S. official tells CNBC that both sides will stand down for now and vessels can move freely.

Monday's gains are broad, with the S&P 500 rising 1.18% and the Nasdaq Composite adding 2.07%. The Dow advances 306.63 points, or 0.59%, with Alphabet climbing nearly 5% in its first trading session as a Dow member.

Defense earnings and data shape next moves

In corporate trading after the bell, AeroVironment jumps 19% after reporting fiscal fourth-quarter adjusted earnings of $1.84 per share on revenue of $642 million. That comes in above analyst expectations of $1.46 per share and $559 million in revenue, according to LSEG.

Investors are also looking ahead to a fresh batch of economic indicators due on Tuesday morning. Markets are set to monitor May JOLTS job openings data, along with the latest readings for June Chicago PMI and consumer confidence, for clues on labor demand and business activity ahead of earnings season.

Julian Emanuel, senior managing director at Evercore ISI, says sentiment is not especially positive, which he views as a constructive setup heading into results. He says market broadening is likely to occur into earnings season among large-cap technology stocks.

Our earlier coverage of the global market rebound after U.S.-Iran de-escalation explained how easing geopolitical tensions helped the Dow close at a record high while the S&P 500 and Nasdaq snapped multi-session losing streaks. We also noted the broader risk-on rotation across assets—firmer oil, softer gold, and steady dollar levels—while investors refocused on upcoming economic data and company-specific catalysts that could keep volatility elevated.

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