S&P 500 futures are flat after index posts fresh closing record, Trump announces Japan trade deal: Live updates

S&P 500 futures were just above the flatline Tuesday evening after President Donald Trump announced the U.S. had reached a trade deal with Japan.

Futures linked to the broad market index last traded 0.1% higher, while Dow Jones Industrial Average futures added 57 points, or 0.1%. Nasdaq 100 futures were near the flatline.

Stock futures briefly turned slightly higher Tuesday night after Trump said in a Truth Social post that the U.S. had completed a “massive Deal” with Japan. The agreement includes “reciprocal” tariffs of 15% on the nation's exports to the U.S.

Those moves follow a second straight day concluding at a high for the S&P 500, which inched up 0.06% in the session. Tuesday marked the 11th closing record of 2025 for the benchmark index. The 30-stock Dow climbed nearly 180 points in the session. The tech-heavy Nasdaq Composite, on the other hand, fell about 0.4% as chip stocks took a hit.

“There's not a lot of optimism,” said Ryan Detrick, chief market strategist at Carson Group, on CNBC's “Closing Bell.” But, “we said there'd be a summer rally. It wasn't popular. It's happening. We think it's not over yet,” he added.

Investors are awaiting earnings from Alphabet and Tesla expected Wednesday after the bell. They are the first reports of the earnings season from the megacap technology sector, a group that's been closely watched given its market leadership in recent years.

Beyond big tech, investors will also monitor reports from Hasbro before the bell, followed by Chipotle Mexican Grill and Mattel after the market closes. These releases come amid a busy earnings week. Of the approximately 17% of S&P 500 companies that have reported so far this season, about 85% have posted earnings that surpassed Wall Street's expectations.

On the economics front, traders will follow existing home sales data due Wednesday morning.

U.S. stock futures turn slightly higher after Trump announces trade deal with Japan

U.S. stock futures turned slightly higher on Tuesday night after President Donald Trump announced a “massive” trade deal with Japan.

S&P 500 futures last traded around 0.1%, while Dow futures advanced 92 points, or 0.2%. Nasdaq 100 futures were near flat.

Trump posted about the development on Truth Social, saying that as part of the agreement, Japanese goods will be subject to a 15% “reciprocal” tariff.

Read more about the deal from CNBC's Lim Hui Jie here.

Health care, a 2025 laggard, puts up a strong showing Tuesday

The sleepy health-care sector, which is off 3% in 2025, was the big winner on Tuesday.

Health care rose 1.9% on Tuesday while investors took a step back from tech names. The information technology sector lost 1% during the session, dragged lower by losses in Nvidia and Broadcom.

IQVIA emerged as the leader in the health-care sector on Tuesday, leaping nearly 18% and posting its best day ever – dating back to its 2013 initial public offering as Quintiles. Shares of the health information technology company rose on the heels of a second-quarter beat on the top and bottom lines.

Charles River Laboratories and Quest Diagnostics also posted solid performances in the session, up 9% and 7%, respectively.

See the stocks moving after hours

These are some of the stocks making notable moves after hours:

• Texas Instruments — The maker of analog and embedded processing chips tumbled more than 9% after second-quarter sales and earnings topped Wall Street estimates, while the low end of third-quarter guidance fell short. The stock had soared 46% over the past three months before the results.
• CoStar Group — Shares of the online real estate marketplace rose 1% after the company reported better-than-expected earnings for the second quarter. CoStar earned 17 cents per share, excluding items, on $781.3 million in revenue, while analysts polled by FactSet anticipated 14 cents per share and $772.2 million in revenue.
• Enphase Energy — Shares slid more than 5%. Despite earnings for the second quarter topping Wall Street expectations, the company said to expect current-quarter revenue between $330 million and $370 million versus a consensus estimate of $368 million from analysts polled by LSEG.

Stock futures are near flat

Stock futures tied to the Dow, S&P 500 and Nasdaq 100 were all little changed shortly after 6 p.m. ET.