Stock futures rose Tuesday as traders looked to recover following a rough day on Wall Street, as President Donald Trump's latest criticism of Federal Reserve Chair Jerome Powell hurt sentiment.

Market Snapshot

At 8:35 a.m. ET, Futures tied to the Dow Jones Industrial Average added 298 points, or 0.8%. S&P 500 futures and Nasdaq 100 futures each gained about 0.8%. Alibaba, BYD Co., Ltd. up 4%, PDD Holdings Inc up 3%.

Pre-Market Movers

Tesla Motors is scheduled to report first-quarter earnings after the closing bell Tuesday, and shares of the electric-vehicle maker rose 1% ahead of the report. Analysts expect Tesla to report adjusted earnings of 41 cents a share, down from 45 cents a year earlier, and revenue of $21.34 billion, slightly higher than the same period in 2024.

Coming into Tuesday, the stock has fallen 44% this year -- including a drop of 5.8% on Monday -- amid falling sales at the EV maker and with investors turned off by CEO Elon Musk's political activities. With Monday's decline, Tesla is now ranked the 11th-largest U.S. company by market cap, its first close outside of the top 10 largest U.S. companies by market value since June 11, 2024, according to Dow Jones Market Data.

NVIDIA was up 1.4% after falling 4.5% on Monday. The leading maker of chips for artificial-intelligence applications last week disclosed that the export of its H20 artificial-intelligence chips to China would require a U.S. government license in the future. Reuters reported Monday that China's Huawei Technologies plans to begin mass shipments of its advanced 910C AI chip to Chinese customers as early as next month.

GE Aerospace reported first-quarter adjusted earnings of $1.49 a share on sales of $9.94 billion. Analysts had expected the the commercial and military aircraft company to report profit of $1.27 a share on sales of $9.1 billion. GE Aerospace backed its 2025 forecast of adjusted earnings of $5.10 to $5.45 a share. The stock rose 5%.

Verizon fell 6%. The telecommunications giant's first-quarter earnings beat Wall Street expectations and Verizon stuck to its guidance although more customers than expected canceled their phone contracts amid worries about a rise in inflation.

Amazon.com shares rose nearly 1% after Amazon delayed some commitments around new data center leases, particularly international ones, Wells Fargo said on Monday. Amazon Web Services is one of the leading providers of cloud infrastructure.

Lockheed Martin rose 3.3%. The defense contractor's first-quarter earnings topped analysts' expectations amid rising geopolitical tensions and a chaotic first few months for the Trump administration. Lockheed Martin reported earnings of $7.28 a share on sales of $18 billion; Wall Street was looking for profit of $6.34 a share and sales of $17.8 billion. The company left its full-year guidance unchanged.

RTX Corp tumbled 4.3%. The aerospace and defense company posted better-than-expected earnings for the first quarter but its full-year sales outlook missed Wall Street estimates. RTX guided for adjusted sales in the range of $83 to $84 billion in 2025, below the $84.16 billion expected by Wall Street. The company said the outlook doesn't include the impact of the recently enacted incremental U.S. and non-U.S. tariffs.

3M rose 7%. The materials sciences company reported better-than-expected first-quarter earnings. For the full year, 3M maintained its earnings range of $7.60 to $7.90 a share, but included a tariff impact of 20 cents to 40 cents.

Northrop Grumman tumbled 9%. The aerospace and defense contractor reported first-quarter earnings that missed analysts' expectations, and cut its 2025 forecast for adjusted profit.

Broadband-software company Calix jumped 16% after posting first-quarter adjusted earnings that topped analysts' expectations and issuing a second-quarter forecast that also was better than consensus.

Market News

Trump Reportedly Weighing a Move to Cut U.S. Drug Prices to International Levels

Pharmaceutical companies have been cautioned that the Trump administration is looking at introducing a policy to link the prices of U.S. medicines to the levels they are available in other developed nations, Reuters reported Tuesday, citing two company sources familiar with the matter.

Both sources termed the policy, which is sometimes called international reference pricing, and indicated a potential revival of a similar move by Trump in his first term as the pharma industry’s top concern.

The sources who were not authorized to issue public comments on the issue anticipate the White House to implement policy through the Centers for Medicare & Medicaid Services (CMS).

Nvidia-Backed CoreWeave Gets Largely Bullish Coverage from Brokerages

Wall Street brokerages on Tuesday began coverage of Nvidia-backed CoreWeave, Inc. with broadly bullish views, although the stock has failed to gain traction with investors following a lackluster initial public offering and market debut.

Among the five major brokerages covering CoreWeave's shares, Goldman Sachs set the highest price target at $54, while J.P.Morgan had the lowest at $43. The stock, which was priced at $40 in its IPO, is currently trading at $36.25.