S&P500 and Nasdaq 100: Palantir, Axon Lift US Stocks as Indices Eye Resistance

S&P 500 Recovers, Nasdaq Trails as Earnings and Tariff Warnings Split Sentiment

U.S. index futures traded mixed Tuesday morning, as traders weighed upbeat earnings against renewed trade concerns.

The S&P 500 E-mini futures ticked up 0.1% after rebounding 1.5% on Monday, snapping a four-day losing streak. Nasdaq 100 futures added 0.3%, while Dow Jones contracts were flat.

While corporate results provided some tailwinds, comments from former President Donald Trump regarding fresh tariffs on chips and pharmaceuticals put a cap on optimism.

Are Earnings Driving S&P 500 Resilience Toward Key Technical Levels?

Daily E-mini S&P 500 IndexThe S&P 500 futures recovered sharply off their 50-day moving average near 6,197 after bouncing from Friday’s low just above 6,300. Monday’s rally pulled the index back toward the 6,468.50 resistance zone marked last week.

More than 80% of the index’s components advanced Monday, with breadth supporting near-term stability.

Technically, the 6,200 level remains key support, with any sustained break below risking a drop toward the 200-day SMA near 6,021.

Can Nasdaq 100 Sustain Momentum After Bouncing from 50-Day SMA?

Nasdaq 100 E-mini futures climbed back above 23,300 after finding footing near the 50-day moving average at 22,594. The tech-heavy index had sold off sharply from its recent high of 23,845.00.

Key names like Palantir, which surged 6.8% after posting over $1 billion in quarterly revenue and hiking full-year guidance, underpinned the bounce.

Traders also saw strong numbers from Axon Enterprise (+8%), Lemonade (+7%), and Zebra Technologies (+7%). However, weak results from MercadoLibre (–6%) and Hims & Hers Health (–12%) kept risk appetite in check.

How Are Dow Jones Futures Reacting to Earnings Misses and Rate Caution?

Dow futures edged lower by 0.06%, holding above their 50-day average at 43,811.8.

The contract is trading just under 44,300 after falling from the 45,312 high.

Sector pressure came from Caterpillar, which dropped on a weaker-than-expected earnings print.

Meanwhile, Yum Brands and Eaton also disappointed, weighing on sentiment. On the upside, DuPont (+5.6%) and Duke Energy (+1.5%) offered modest support.

What’s the Outlook as Traders Watch for Fed Cues and Tech Earnings?

With more than 81% of S&P 500 companies beating estimates so far, earnings season has kept broader pressure contained. Still, the tariff rhetoric and Friday’s weak jobs report inject uncertainty into the Fed’s policy outlook.

Key earnings from Snap, AMD, and Rivian after the bell could sway sentiment further.

Traders should watch support at 6,200 (S&P), 22,600 (Nasdaq), and 43,800 (Dow), with resistance at recent highs. A break above or below these levels could define direction into mid-August.

More Information in our Economic Calendar.