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U.S. stock futures are little changed as markets digest trade policy changes and watch for corporate earnings; China announces retaliatory tariffs on U.S. goods and launches an antitrust probe into Google; investors await earnings after the bell from Google parent Alphabet (GOOGL) and Advanced Micro Devices (AMD); Palantir (PLTR) stock is soaring in premarket trading after the software maker posts better-than-expected results; and PepsiCo (PEP) shares slip after the soft drinks and snacks giant posts mixed results. Here's what investors need to know today.
1. US Stock Futures Little Changed as Markets Assess Shifting Trade Policy
U.S. stock futures are little changed as investors continue to assess the impact of shifting trade policy ahead of more corporate earnings reports. Nasdaq futures are edging higher after the index shed 1.2% in the prior session on market reaction to tariff developments. Dow Jones Industrial Average futures are edging lower and S&P 500 futures are little changed after both indexes posted losses yesterday. Bitcoin (BTCUSD) is down 2%, falling back under $100,000. Yields on the 10-year Treasury note are slightly higher. Oil and gold futures are lower.
2. China Sets Retaliatory Tariffs on US Imports, Launches Google Probe
China retaliated against new U.S. tariffs soon after they took effect at midnight ET Tuesday, imposing duties on the imports of some American goods and launching an antitrust probe into Alphabet's (GOOGL) Google, broadening the trade war between the world's two largest economies. On Monday, the White House paused imminent 25% import tariffs on good from Mexico and Canada for one month after President Donald Trump had talks with both Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum.
3. Alphabet, AMD Slated to Report Earnings After Closing Bell
Shares of both Google-parent Alphabet (GOOGL) and Advanced Micro Devices (AMD) are higher in premarket trading ahead of the companies’ earnings reports after markets close. Alphabet is expected to post a 12% year-over-year revenue jump, and the firm's AI spending will likely be in focus after the release of Chinese AI model DeepSeek raised concerns about the competitiveness of U.S. firms. AMD's report is expected to show the chipmaker's revenue rose 22%. Its stock has lost a third of its value in the past 12 months amid concerns about AMD's outlook and ability to compete with Nvidia's (NVDA) offerings.
4. Palantir Stock Pops as Earnings Soar on AI Demand
Palantir (PLTR) shares are surging by more than 20% in premarket trading after the analytics software provider reported strong quarterly results on increasing demand for its artificial intelligence (AI) products. The company reported 36% year-over-year revenue growth to $828 million, surpassing Visible Alpha estimates on strong demand for the company's Artificial Intelligence Platform. The company anticipates 2025 revenue of $3.74 billion to $3.76 billion, above the analyst consensus of $3.51 billion.