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U.S. equity futures were mixed in early Tuesday trading, following on from the second consecutive record close for the S&P 500, as investors continue to bet that a solid earnings season and fading inflation will guide the domestic economy to a soft landing this year.

Stocks ended higher again yesterday, with the Dow topping the 38,000-point mark for the first time and the S&P 500 notching its second record close. The figures were posted even in the face of a muted gain for the so-called Magnificent 7 tech stocks and a nudge higher in Treasury yields.

Investors are now likely to focus on a busy corporate earnings calendar over the next three sessions. Netflix  (NFLX) – Get Free Report is slated to update investors after the close of trading and Verizon  (VZ) – Get Free Report, Johnson & Johnson  (JNJ) – Get Free Report, General Electric  (GE) – Get Free Report, 3M  (MMM) – Get Free Report and Procter & Gamble  (PG) – Get Free Report are reporting before the bell.

GE shares slipped after the industrials giant topped Wall Street forecasts for fourth-quarter profit but forecast muted free-cash-flow and earnings to start the new year.

Johnson & Johnson’s profit outlook was also stable, with the pharma giant reiterating its 2024 outlook following a stronger-than-expected fourth-quarter update.

Verizon share jumped 5.6% after it topped Street earnings forecast and said profits would rise firmly into the coming year thanks in part to better-than-expected gains on wireless subscribers linked to its new hybrid plan offerings.

United Airlines  (UAL) – Get Free Report, which reported after the close of trading last night, was the standout premarket mover. The stock surged more than 6% after the carrier offset an expected hit from Boeing  (BA) – Get Free Report aircraft delays with an upbeat profit outlook for 2024 of between $9 and $11 a share.

Overall, analysts see collective fourth-quarter S&P 500 profits rising around 4.5% from the same period in 2022 to a share-weighted $454.2 billion. First-quarter profits are expected to rise 6.6% to $468 billion.

In other markets, benchmark 10-year Treasury note yields were holding steady at 4.128% in early New York trading while 2-year notes were pegged at 4.406%. That’s ahead of a $60 billion auction of new paper later today, the first of three coupon sales this week that will raise around $162 billion.

The U.S. dollar index, which tracks the greenback against a basket of six global currencies, was marked 0.06% higher at 103.398.

On Wall Street, stock futures suggest a muted open, with the S&P 500 called 4 points higher and the Dow Jones Industrial Average indicating a pullback of around 10 points. The tech-focused Nasdaq, meanwhile, is called 28 points higher.

In Europe, the Stoxx 600 was marked 0.2% lower in early Frankfurt dealing, with Britain’s FTSE 100 down 0.12% and closely tracking U.S. equity futures.

Overnight in Asia, the Bank of Japan held its key policy rate steady at -0.1%, while maintaining its overall tenor of ultra-loose policy, as it lowered inflation forecasts for the coming year.

The Nikkei 225, which closed at a 34-year high on Monday, ended the session 0.06% lower at 36,517.57 points. The broader MSCI ex-Japan index slipped 0.06% into the close of trading.

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