S&P 500 futures slip after index posts longest win streak since November: Live updates

Stock futures tied to the S&P 500 were lower early Wednesday as traders prepared for a blast of economic data to wrap up a tumultuous month of trading.

S&P 500 futures slipped 0.51%, while Nasdaq 100 futures lost 0.66%. Dow Jones Industrial Average futures added 300 points, or 0.75%.

The major averages ended Tuesday higher after Commerce Secretary Howard Lutnick told CNBC that the White House was close to announcing a trade deal, but didn’t name the country. Later in the afternoon, President Donald Trump said that tariff negotiations with India are “coming along great” and that the U.S. could soon strike an agreement with the nation.

In the previous session, the 30-stock Dow climbed 300 points, while the S&P 500 gained 0.58%. It was the sixth straight winning day for both indexes, the longest since July for the Dow and since November for the S&P 500. The tech-heavy Nasdaq Composite gained 0.55%.

April has been a rocky month for markets. Trump’s sweeping “reciprocal” tariff announcement on April 2 set off a bout of volatile trading, but the major averages have been gradually narrowing the month’s losses. Consider that the S&P 500 briefly entered a bear market on April 7 but has since made a comeback, and is down just 0.9% this month. The Dow is on pace for a 3.5% loss in April, while the Nasdaq is about 0.9% higher.

“U.S. equities have picked up the pace as April 30 rapidly approaches, aiming for the monthly flatline and recouping losses following President Donald Trump’s tariff barrage,” said Jeff Buchbinder, LPL Financial chief equity strategist.

Treasury Secretary Scott Bessent noted on Tuesday that “individual investors have held tight, while institutional investors have panicked” in the recent market turmoil. These mom-and-pop investors have been buyers of this month’s sell-off.

A batch of high-stakes economic reports that could shed light on how close the economy is to a recession and dictate the markets’ next move awaits on Wednesday.

The first reading of the first quarter’s gross domestic product is expected to show an annualized growth rate of 0.4%, adjusted for seasonality and inflation, per Dow Jones estimates. Several banks on Wall Street are already trimming back their GDP estimates, anticipating negative growth.

The personal consumption expenditures price index for March is also due in the morning. Economists polled by Dow Jones see no gain for March and a reading of 2.2% for headline inflation. The PCE is closely watched by the Federal Reserve and is one of its preferred inflation metrics.

Investors will also be watching for key earnings reports from Meta Platforms and Microsoft, due in the afternoon.