By Oliver Gray
Investing.com - U.S. stock futures traded flat in early APAC deals on Tuesday after all three major benchmark indices eked out fresh record highs during Monday’s regular session, as investors cheered mostly positive results amid a deluge of Q3 earnings reports ahead of the Federal Reserve’s two-day policy meeting set to conclude on Wednesday.
During Monday’s regular session, the Dow Jones Industrial Average rose 94.28 points to 35,913.84, the S&P 500 rose nearly 0.2% to 4,613.67 and the Nasdaq Composite added 0.6% to 15,595.92.
On the futures markets, the Dow Jones, S&P 500 and Nasdaq 100 remained little changed.
Among stocks, airline companies traded higher on reopening enthusiasm, with Boeing Co (NYSE:BA) added 3.65%, Delta Air Lines Inc (NYSE:DAL) gained 3.32% and American Airlines Group (NASDAQ:AAL) up 2.97%. Tesla Inc (NASDAQ:TSLA) also surged 8.49% to fresh record highs and posting 4 sessions of consecutive gain. In extended deals, Chegg Inc (NYSE:CHGG) plummeted 28.54% after a weaker-than-expected quarterly report, posting revenue of $171.9 million versus $174.5 million estimated, according to Refinitiv. Meantime, Clorox Co (NYSE:CLX) added 5.26% after-hours after reporting a better-than-expected adjusted profit of $1.21 per share on revenue of $1.81 billion. Later in the session, market participants will be gearing up for further earnings reports from Under Armour (NYSE:UAA), Pfizer Inc (NYSE:PFE) and LYFT Inc (NASDAQ:LYFT).
Meantime, the Federal Reserve’s two-day meeting will also be closely monitored by investors, amid expectations that policymakers will move to taper the Fed's current asset purchase program as the post-pandemic economic recovery. October’s employment report due Friday is also expected to signal improvements in hiring as coronavirus cases decline across the country.