Stock futures in the U.S. decline following consecutive gains by the S&P 500: Updates live

Stock futures in the U.S. experienced a downward trend Monday night following two consecutive days of gains in the S&P 500. Investors were anticipating the release of a new set of first-quarter earnings reports.

Dow Jones Industrial Average futures declined by 146 points, equating to a 0.4% decrease. S&P 500 futures and Nasdaq 100 futures also saw a decline of 0.5% and 0.6%, respectively.

The positive trend in the major stock indexes on Monday was primarily due to the tech sector. This sector received a boost after the Trump administration announced exceptions from reciprocal tariffs for electronic gadgets such as smartphones, computers, and semiconductors. Nonetheless, statements made by President Donald Trump and Commerce Secretary Howard Lutnick on Sunday hinted that these exceptions might only be temporary.

During the standard trading hours on Monday, the Dow saw an increase of 312.08 points, marking a 0.78% rise. The S&P 500 also climbed by 0.79%, while the Nasdaq Composite added 0.64%.

The upcoming week is significant for the first-quarter earnings season as prominent companies like Bank of America, Citigroup, Johnson & Johnson, and PNC Financial are scheduled to announce their financial results before the opening bell on Tuesday. However, it is uncertain whether this earnings season will provide clarity on how companies will be impacted by the new tariff policies introduced by Trump, according to Brenda Vingiello, the chief investment officer of Sand Hill Global Advisors.

She expressed on CNBC’s “Closing Bell: Overtime” that, “I think when it comes to earnings season, we’re just going to hear a lot of uncertainty with regard to some companies. I don’t think we’re going to have a lot of answers after this earning season other than that Q1 was probably pretty good.”

On Tuesday, investors will be keeping an eye on the latest data regarding import and export prices in March. Additionally, the New York Federal Reserve’s Empire State Manufacturing Survey results will be released.

In a note on Monday, John Stoltzfus, the chief investment strategist at Oppenheimer, emphasized the importance of patience for investors during this period of uncertainty. He reiterated his bullish outlook on equities, highlighting that the current volatility linked to tariff uncertainties should be viewed as typical in a market environment characterized by significant technological advancements and changes in the global trade landscape.

Stoltzfus also outlined his preferred sectors as information technology, communication services, consumer discretionary, financials, and industrials, all of which have experienced a decline in value this year.

Shares of ON Semiconductor rose by 3% during extended-hours trading on Monday after the company decided to withdraw its proposal to acquire Allegro MicroSystems for $35.10 per share. Conversely, Allegro’s stock dropped by 12%.

In a press release, ON Semiconductor stated that they had abandoned the acquisition bid as they found no actionable path forward. They reassured investors of their commitment to exploring alternative opportunities to enhance shareholder value.