U.S. stock futures saw modest gains Tuesday morning as markets digested significant corporate developments ahead of key economic reports later this week, according to the Associated Press. Futures for the S&P 500 climbed 0.1%, while the Dow Jones Industrial Average rose 0.2% before the market opened.
A significant announcement came from Shutterstock and Getty Images, which revealed plans to merge into a $3.7 billion visual content powerhouse. The combined company aims to offer an expansive portfolio of still imagery, video, music, and 3D media. Under the terms of the deal, Getty shareholders will own 54.7% of the new entity, while Shutterstock shareholders will hold 45.3%. The news sent shares soaring in premarket trading, with Getty jumping more than 57% and Shutterstock climbing 32%.
Meta Platforms also made headlines by appointing three new members to its board of directors. Dana White, president and CEO of Ultimate Fighting Championship, automotive executive John Elkann, and tech investor Charlie Songhurst were named to the board. The announcement, shared by Meta CEO Mark Zuckerberg in a Facebook post, left the company’s stock largely unchanged.
Meanwhile, shares of several major Chinese companies took a hit after the U.S. Defense Department added dozens of firms to its list of entities linked to China’s military. Among those affected were Tencent, the gaming and technology giant, which saw its Hong Kong-listed shares drop 7.3%, as well as artificial intelligence firm SenseTime and battery manufacturer CATL, whose shares fell nearly 3%. The targeted companies have criticized the decision and are seeking to challenge the U.S. sanctions.
As Wall Street looks ahead, investor focus remains on the economic reports expected from Washington later this week, which could shape market direction in the coming days.
