Wall Street inched higher Tuesday after a big selloff to start the week, which was spurred by the potential economic damage from President Donald Trump’s tariffs, according to the Associated Press. Futures for the S&P 500 rose 0.5% before the bell, while futures for the Dow Jones Industrial Average gained 0.4%, and Nasdaq futures rose 0.6%
Among early gainers Tuesday was Southwest Airlines, which jumped 7.3% in premarket after the low-cost airline announced it would implement bag fees for travelers who are not members of its rewards program.
Most airlines were down sharply before the opening bell after Delta Air Lines slashed its first-quarter forecast, citing weakening demand. Hotels, cruise lines, and online travel bookers also slid early Tuesday.
Tesla took back a small portion of Monday’s big losses, rising 2.7%. Investors have grown increasingly pessimistic about the Elon Musk-owned electric car company as sales fall in the U.S. and abroad. Its shares tumbled more than 15% Wednesday, with many analysts blaming the company’s recent sales slump on Musk’s role in President Trump’s government downsizing efforts and his broader embrace of far-right politics around the globe.
Markets will be focused on Washington as well Tuesday when a government funding bill is expected to come to a vote in the House of Representatives. The bill’s passage would avoid a partial government shutdown and keep federal agencies funded through September, but Republicans will need overwhelming support from their members in both chambers — and some help from Senate Democrats — to get the bill to President Donald Trump’s desk.
