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Stock futures are little changed after S&P 500 ends 3-day decline: Live updates

Stock futures hovered near the flatline Tuesday evening after the S&P 500 rebounded from a rough start to the week.

S&P 500 futures hovered pulled back 0.03, while Nasdaq 100 futures hovered near the flatline. Futures tied to the Dow Jones Industrial Average ticked lower by 0.1%.

In after-hours action, FedEx popped 14% after issuing adjusted earnings that surpassed estimates in the fiscal fourth quarter. Electric vehicle manufacturer Rivian Automotive soared 46% after Volkswagen announced it would invest up to $5 billion in the company.

In Tuesday's regular trading, both the S&P 500 and the Nasdaq Composite ended three days of declines, buoyed by a bounce in Nvidia shares. The 30-stock Dow was the laggard of the three major averages, sliding nearly 300 points.

Nvidia's jump of nearly 7% on Tuesday also marked its first positive session after three days of losses. The artificial intelligence darling's market cap gives it tremendous sway over the S&P 500, and its 154% surge in 2024 has raised concerns over a lack of breadth in this year's rally.

"We still think it's too early to write off the rest of the market in favor of the large-cap tech and Nvidia especially," Bespoke Investment Group co-founder Paul Hickey told CNBC's "Closing Bell: Overtime" on Tuesday. "We look for the market to broaden out, but it's not necessarily a binary choice between megacaps and smaller caps, but more bias going forward to looking at these other companies in the S&P 500."

Wall Street will shift its attention toward fresh inflation data on Friday with the release of May's personal consumption expenditures price index. The Federal Reserve keeps a close eye on this metric, its preferred inflation gauge, and investors remain hopeful for the prospect

Read more on cnbc.com