US stock futures leaned lower on Tuesday, slipping back from a rally fueled by optimism that Washington may soon end the record-breaking government shutdown.
S&P 500 futures (ES=F) edged down 0.2%, while those on the Dow Jones Industrial Average (YM=F) clung to the flat line. Contracts on the Nasdaq 100 (NQ=F) slipped 0.4% on the heels of a roaring start to the week for stocks, which saw the tech-heavy benchmark surge as hopes for an AI boom revived.
Testing that faith, CoreWeave (CRWV) trimmed its full-year revenue forecast after market close on Monday, taking the shine off its strong quarterly earnings. Shares dropped over 8% in premarket trading after the Nvidia (NVDA)-backed AI infrastructure provider flagged a delay by a data center partner.
But a vote of confidence came from SoftBank Group, which sold its entire stake in chipmaker Nvidia to fund its own investments in AI development, at a time that Wall Street is questioning whether the huge amounts of capital being poured into the tech will deliver a payoff.
Meanwhile, hopes continue to grow that the 41-day shutdown could soon end, after the Senate on Monday evening passed a funding measure, advancing it to the House for a vote. President Trump has said he supports the bill, which doesn’t include the extension of Affordable Care Act subsidies wanted by Democrats. A separate vote on those tax credits is scheduled for December.
As earnings season starts to slacken pace, Sony (SONY) is on Tuesday’s docket. Results from Disney (DIS) and Cisco (CSCO) are in focus later this week.
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