Traders work on the floor of the New York Stock Exchange during morning trading in New York City.
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Stock futures were little changed Tuesday after the Dow Jones Industrial Average closed at a record.
Dow futures were up 52 points, or 0.1%. S&P 500 futures slid 0.1%, and Nasdaq-100 futures fell 0.2%.
Those moves come after a winning day on Wall Street that propelled the S&P 500 and Dow to new intraday highs and record closes. Notably, the Dow added more than 200 points to finish above the 43,000 mark for the first time.
Information technology stocks led the S&P 500 higher in the session, with the sector finishing nearly 1.4% higher. The market got upward momentum from Nvidia‘s 2.4% rally, which pushed the artificial intelligence darling to a record close.
“I think we have to acknowledge that the S&P 500 is at least fairly, if not slightly, overvalued,” said Scott Chronert, Citi’s U.S. equity strategist, on CNBC’s “Closing Bell.” “But this can persist as long as the news flow supports it.”
Corporate earnings take center stage Tuesday, with Goldman Sachs, Citigroup and Bank of America all set to report. Beyond banks, United Airlines, Walgreens Boots Alliance and Johnson & Johnson are also on the docket.
Investors will keep an eye on economic data around manufacturing and consumer expectations. San Francisco Federal Reserve President Mary Daly, Atlanta Fed President Raphael Bostic and Fed Governor Adriana Kugler are expected to deliver remarks throughout the day.
