Stock futures are little changed after market returns to record highs: Live updates

CNBC

3 days ago

Traders work at the New York Stock Exchange on August 12, 2025.
NYSE
Stock futures are little changed Tuesday night as investors look ahead to inflation data due later this week.
Futures tied to the Dow Jones Industrial Average dropped 13 points, or less than 0.1%. S&P futures fell 0.04%, while Nasdaq 100 futures were 0.02% lower.
In after-hours trading, Cava shares plunged more than 22% after the Mediterranean restaurant chain reported disappointing second-quarter revenue growth and lowered its same-store sales forecast for the full year. CoreWeave shares dropped about 5% even though the artificial intelligence infrastructure provider delivered a top-line beat and said its revenue more than tripled from a year earlier.
The major U.S. indexes are coming off of a strong trading session, which saw the S&P 500 and tech-heavy Nasdaq Composite close at fresh record highs. The S&P 500 added 1.1% to settle at 6,445.76, while the Nasdaq ended 1.4% higher at 21,681.90. The Dow Jones Industrial Average added about 483 points, or 1.1%, to close at 44,458.61.
The Russell 2000 Index jumped nearly 3% during the session as small-cap stocks are generally considered a beneficiary of lower short-term borrowing rates.
Stocks traded higher Tuesday as inflation data was tamer than expected, soothing investor fears that tariffs are not spiking prices. Traders are now pricing in a nearly 94% chance of a rate cut at the Federal Reserve's September meeting, per trading data from the CME's FedWatch Tool.
Thursday's producer price index report on wholesale inflation will add another piece of the economic picture. The report comes ahead of the Fed's Jackson Hole meeting on Aug. 21-23, which could also help shape expectations for the central bank's next policy move.
Not all investors came away convinced by Tuesday's strong moves. 3Fourteen Research co-founder Warren Pies said the moves in small-cap names may not be what they seem in this late-cycle environment.
"We've had some seasonal buying in the beginning of August, and I think people are starting to jump the gun and misinterpret that as this summer melt-up that every wants to believe in," Pies said on CNBC's "Closing Bell." "I think there is some concerns in my mind about the labor market and the growth story and the market's kind of glossing over them."