U.S. stock index futures were mixed on Tuesday as investors awaited the outcome of ongoing trade talks between the United States and China aimed at cooling a tariff dispute that has bruised global markets this year.

U.S. Commerce Secretary Howard Lutnick said trade talks with China were going well as the two sides met for a second day in London.

Market Snapshot

At 7:54 a.m. ET, Dow Jones Industrial Average futures fell 16 points. S&P 500 futures and Nasdaq 100 futures were marginally higher. Circle Internet Corp. rose 3%.

Pre-Market Movers

Shares of Tesla Motors were rising 2.54% in the premarket session. The electric-vehicle maker ended Monday up 4.6% after spending most of the trading day in the red. President Donald Trump told reporters he wished Tesla CEO Elon Musk "well" after the two had a very public falling out last week. Trump also said he wasn't going to sell the red Tesla he bought in March, when the two men were on better terms. The president called Starlink, which is made by Elon Musk's SpaceX, a good service and said he had no plans to drop it from use at the White House.

Apple traded down 0.3% in premarket trading after slumping 1.2% Monday following the first day of its annual Worldwide Developers Conference at which the company touted artificial-intelligence features it already has implemented but said an upgraded Siri voice assistant wasn't yet available. Apple needs "more time to meet our high quality bar, and we look forward to sharing more about it in the coming year," said Craig Federighi, senior vice president of software engineering.

U.S.-listed shares of Taiwan Semiconductor Manufacturing rose 2% after the world's largest contract chip maker reported revenue in May jumped 40% from a year earlier. Revenue for last month, however, declined 8.3% from April.

Novo-Nordisk A/S rose 3% after activist hedge fund Parvus builds stake in company, FT reports.

Microsoft was down 0.2% after the software giant finished up 0.5% on Monday to a record closing high of $472.75.

Plug Power stock jumped 11% on $5.5B Uzbekistan deal and CFO recent purchase.

JM Smucker slumped 7% after the maker of Jif peanut butter and Folger's coffee reported fiscal fourth-quarter adjusted earnings that beat analysts' estimates but issued a forecast for fiscal 2026 that was below expectations. Smucker said it expects adjusted profit of $8.50 to $9.50 a share in the current fiscal year, below consensus of $10.27

McDonald's declined 1.4% to $300.50 after receiving its third downgrade from Wall Street in recent days. Redburn Atlantic's Chris Luyckx downgraded McDonald's to Sell from Buy and reduced the price target on the stock to $260 from $319, the Fly reported. The analyst sees GLP-1 weight-loss drugs suppressing customer appetites and presenting an underappreciated longer-term threat for the fast-food chain, according to the Fly. Analysts at Morgan Stanley on Monday downgraded McDonald's to Equal Weight from Overweight.

Casey's General reported fiscal fourth-quarter profit of $2.63 a share, easily topping Wall Street consensus of $1.92, as revenue rose to nearly $4 billion from $3.6 billion a year earlier. Inside same-store sales rose 1.7% from a year earlier and the convenience-store chain said it expects fiscal 2026 inside same-store sales to increase 2% to 5%. The stock gained 11%.

Market News

Meta's Zuckerberg Hiring to Form “Superintelligence” AI Team - Report

Meta Platforms, Inc.’s CEO is assembling a team of experts to achieve artificial general intelligence, Bloomberg News reported.

Zuckerberg has prioritized recruiting for the new team, referred internally as a 'superintelligence group,' the report added, citing people with knowledge of his plans. He intends to recruit from a group of AI researchers and engineers whom he has met in recent weeks at his homes in Lake Tahoe and Palo Alto.

Artificial general intelligence, or AGI, refers to the hypothetical intelligence of a machine that has the ability to understand or learn any intellectual task that a human can.

Nvidia, HPE to Build New Supercomputer in Germany

NVIDIA and Hewlett Packard Enterprise said on Tuesday they are partnering with the Leibniz Supercomputing Centre to build a new supercomputer using Nvidia's next-generation chips.

The Blue Lion supercomputer, as the project is called, will become available to scientists in early 2027, using Nvidia's "Vera Rubin" chips.

IBM Aims for Quantum Computer in 2029, Lays Out Road Map for Larger Systems

IBM on Tuesday said it plans to have a practical quantum computer by 2029, and it laid out the detailed steps the company will take to get there.

Quantum computers tap into quantum mechanics to solve problems that would take classical computers thousands of years or more. But existing quantum computers must dedicate so much of their computing power to fixing errors that they are not, on net, faster than classical computers.