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Tesla falls on China-made EV sales drop in April

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Walt Disney ( DIS ) falls on weaker TV business in Q2

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Palantir ( PLTR ) slides as annual forecast misses estimates

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Futures: S&P 500 up 0.03%, Nasdaq 100 down 0.17%, Dow up

0.05%

(Updated at 8:33 a.m. ET/1233 GMT)

By Sruthi Shankar and Shristi Achar A

May 7 (Reuters) - U.S. stock index futures indicated a

mixed open on Tuesday after recent gains on expectations that

the Federal Reserve will cut interest rates this year, as shares

of Walt Disney ( DIS ) slid following quarterly results.

Walt Disney ( DIS ) fell 5.1% in premarket trading, as a

surprise profit in its streaming entertainment division was

eclipsed by a drop in its traditional TV business and weaker box

office.

A dip in Nvidia ( NVDA ) and Tesla shares also

looked set to pressure the tech-heavy Nasdaq.

The three main U.S. stock indexes closed at their strongest

level in more than three weeks on Monday after a

weaker-than-expected labor market report last week fueled bets

that the U.S. central bank will ease monetary policy this year.

The report and better-than-expected earnings reports have

helped soothe jittery investors, who sent markets lower in

April, on concerns that sticky inflation and a robust economy

would prompt the Fed to keep rates higher for longer.

"The market is still pricing inflation will ultimately be

conquered, maybe not down to 2%, but certainly under 3%. The

central banks will win there and the cost will be a slower

economy," said Hal Reynolds, chief investment officer at Los

Angeles Capital Management.

"That will happen sometime later this year or early next

year and these rate cuts will come. But there is still a fair

bit of noise. I don't think things are much clearer today than

they were two months ago."

Traders currently anticipate rate cuts of 45 basis points

(bps) from the Fed by the end of 2024, according to LSEG's

interest rate probabilities app, with the first pivot to rate

cut priced in for September and another in December.

Investors will keep an eye on Minneapolis Fed President Neel

Kashkari's speech later in the day. Richmond Fed President

Thomas Barkin said on Monday finishing the battle against

inflation will likely require a hit to demand, while his New

York counterpart John Williams said that at some undefined point

the U.S. central bank will lower its interest rate target.

At 8:33 a.m. ET, S&P 500 e-minis were up 1.75

points, or 0.03%. Nasdaq 100 e-minis slipped 30.75

points, or 0.17%, while Dow e-minis climbed 19 points,

or 0.05%.

The earnings season has been largely supportive for markets.

Of the nearly four-fifth of the S&P 500 companies that reported

first-quarter results through Friday, 76.8% topped analysts'

profit estimates, as per LSEG data. In a typical quarter, 67%

beat earnings estimates.

Kenvue ( KVUE ) gained 3.6% after the Band-Aid maker beat

first-quarter profit estimates and said it would cut 4% of its

global workforce.

Nvidia ( NVDA ) fell 0.9% after the Wall Street Journal

reported that Apple was developing its own chip to run

artificial intelligence (AI) software in data centers.

Apple gained 0.9% ahead of an event later on Tuesday where

it is expected to unveil new iPads.

Tesla fell 1.8% after data showed the U.S.

automaker sold 62,167 China-made electric vehicles in April,

down 18% from a year earlier.

Palantir Technologies ( PLTR ) tumbled 11.4% after the data

analytics firm's annual revenue forecast fell short of analysts'

estimates.

(Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru;

Editing by Shinjini Ganguli)