-- U.S. stock index futures moved little in evening deals on Tuesday, tracking a middling session on Wall Street as a recent rally on rate cut hopes cooled, especially as Federal Reserve officials signaled steady rates in the near-term.
A dearth of more immediate trading cues also made for muted movements in U.S. stocks, as investors adopted a wait-and-see approach before a storm of key economic readings and earnings.
steadied at 5,214.75 points, while were flat at 18,205.25 points by 19:15 ET (23:15 GMT). hovered around 39,022.0 points.
Wall Street flat as rate optimism cools
Futures moved little tracking a middling session on Wall Street on Tuesday, as optimism over eventual interest rate cuts was quashed by a string of Fed officials signaling that rates will remain steady in the near-term.
Minneapolis Fed President Neel Kashkari said sticky inflation could keep interest rates unchanged for the rest of the year, even as markets began pricing in a greater chance of a September rate cut following weaker-than-expected data.
But while the labor market appeared to be cooling, inflation is still expected to remain a key point of contention for the Fed. data for April is due next week, anticipation of which also limited moves on Wall Street.
The rose 0.1% to finish at 5,187.70 points on Tuesday. The fell 0.1% to 16,332.56 points after rallying sharply in recent sessions, while the rose 0.1% to 38,884.26 points.
Uber, Airbnb earnings on tap
The first quarter earnings season is set to continue on Wednesday, with reports from (NYSE:) and Airbnb Inc (NASDAQ:) due later on Wednesday.
Uber rose over 2% in aftermarket trade, as markets priced in potentially stronger earnings from the ridesharing giant. Its rival LYFT Inc (NASDAQ:) rose 4% after posting a smaller loss in the March quarter.
Airbnb is also expected to clock stronger revenues on a recovery in global travel demand.
surges on strong earnings, Upstart tumbles
Among major aftermarket movers, social media platform Reddit Inc (NYSE:) surged nearly 15% on stronger-than-expected first-quarter earnings, in the company’s first earnings season as a publicly traded entity. Reddit also offered an upbeat outlook for the second quarter.
Online lending platform Upstart Holdings Inc (NASDAQ:) sank 18% after it offered weak guidance for the current quarter.
Electric vehicle maker Inc (NASDAQ:) sank nearly 6% after clocking a bigger-than-expected first-quarter loss, while videogame maker (NASDAQ:) fell nearly 4% on dismal earnings and guidance.