U.S. stock futures slipped slightly on Tuesday as investors prepared for a heavy day of corporate earnings that could offer fresh signals on both company fundamentals and the broader economic outlook. Streaming giant Netflix (NASDAQ:NFLX) headlines the list of companies set to report results after the close.
Shares of Zions Bancorporation (NASDAQ:ZION) moved higher in post-market trading after executives downplayed concerns surrounding a $50 million loan loss, calling it an isolated event. Meanwhile, Amazon.com, Inc. (NASDAQ:AMZN) announced its cloud platform is back online after a major outage, and Sanae Takaichi is on course to become Japan’s first female prime minister after securing a key parliamentary vote.
Futures edge lower as investors await earnings flood
U.S. stock futures drifted lower ahead of the opening bell. By 03:16 ET, Dow futures were down 86 points (0.2%), S&P 500 futures slipped 9 points (0.1%), and Nasdaq 100 futures lost 42 points (0.2%).
Wall Street’s major averages had closed higher on Monday, buoyed by gains in technology and financial shares, upbeat earnings, and easing concerns over U.S. regional bank balance sheets. Shares of Apple Inc. (NASDAQ:AAPL) reached a new record high following a series of optimistic reports about strong iPhone 17 demand.
Optimism also surrounded the upcoming trade discussions between Donald Trump and Xi Jinping in South Korea later this month. A White House official suggested the prolonged U.S. government shutdown “could be coming as soon as this week.”
Netflix to report after the bell
The pace of earnings season ramps up this week, with Netflix among the most closely watched companies reporting results.
Shares of Netflix have gained more than 39% year-to-date, reflecting strong investor confidence as the streaming platform leans into its advertising business. Investors will also look for any commentary on the controversy sparked by Elon Musk, who urged users to cancel their subscriptions.
Other major companies reporting Tuesday include GE Aerospace (NYSE:GE), The Coca-Cola Company (NYSE:KO), Philip Morris International (NYSE:PM), and RTX Corporation (NYSE:RTX).
Zions Bancorp reassures after loan loss
Zions Bancorp (NASDAQ:ZION) shares ticked higher in extended trading after the bank reported stronger third-quarter earnings supported by growth in net interest income.
This comes despite the company’s disclosure of a $50 million loss on two commercial and industrial loans from its California division. The news, combined with similar disclosures from Western Alliance and Jefferies, triggered a selloff in regional bank stocks last week.
However, Zions Chief Credit Officer Derek Steward told analysts the company was “confident this was an isolated incident in our portfolio.” Net interest income rose to $672 million from $620 million a year earlier.
Amazon says AWS outage resolved
Amazon (NASDAQ:AMZN) said operations at its Amazon Web Services unit have returned to normal following Monday’s outage, which caused widespread disruption to hundreds of websites.
The company added that message backlogs would still take a few hours to process. The incident, caused by a regional gateway issue on the U.S. East Coast, impacted several platforms including Perplexity, Coinbase (NASDAQ:COIN) and Robinhood Markets, Inc. (NASDAQ:HOOD).
Takaichi to make history as Japan’s first female prime minister
Sanae Takaichi, leader of Japan’s Liberal Democratic Party, won a key lower house vote on Tuesday, clearing the way to become the country’s first female prime minister later in the day.
The 64-year-old secured 237 votes, more than the required majority in the 465-seat lower house. Although she did not win an outright majority in the upper house, the outcome is expected to confirm her appointment as Japan’s 104th prime minister.
Takaichi will replace Shigeru Ishiba, who resigned in September after poor election results. She is known for her fiscally dovish stance and is expected to ramp up spending on infrastructure, industrial development, and defense as Japan contends with slowing consumption, persistent inflation, and tariff-related headwinds from the U.S.
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