After Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL) reported strong quarterly earnings, U.S. markets are expected to begin neutral on Tuesday, with the tech-heavy Nasdaq gaining.

The Dow futures contract was down 20 points, or 0.1%, at 07:00 ET (11:00 GMT), while the S&P 500 futures were up 6 points, or 0.1%, and the Nasdaq futures were up 125 points, or 1%.

After First Republic Bank (NYSE:FRC) reported that first-quarter deposits fell by $100 billion last month due to consumers moving money out of the bank amid the instability in March, new concerns about the banking industry caused the main indices to close substantially down on Tuesday.

The broad-based S&P 500 plummeted 1.6%, the blue-chip Dow Jones Industrial Average dropped over 350 points, or 1%, and the Nasdaq Composite finished lower by 2%.

After the market closed, however, the mood improved as Alphabet, the parent company of Google, and IT heavyweights Microsoft revealed first-quarter solid earnings, demonstrating the resiliency of both firms’ leading industries.

Meta Platforms (NASDAQ:META), which owns Facebook, took up the slack on Wednesday and released its financial results after the close of U.S. trading.

Mark Zuckerberg, the CEO, has already announced waves of significant cost and job cuts in recent months. Investors will be watching closely to see how these cost-cutting efforts affect the business’s overall performance and its aspirations for artificial intelligence.

Thermo Fisher Scientific (NYSE:TMO), a biotech company, Boeing (NYSE:BA), Hilton Worldwide (NYSE:HLT), Spirit Airlines (NYSE:SAVE), and ServiceNow (NYSE:NOW) are some of the other well-known companies scheduled to report today.

Wednesday’s economic data schedule is dominated by the announcement of the nation’s durable goods orders for March, which are predicted to increase by 0.7% on the month, a notable improvement from the 1.0% decline in February.

Next week, the Fed is largely anticipated to raise rates by another 25 basis points, but subsequent actions will likely rely on data. This implies that the decision-makers will be closely monitoring these results, together with the first-quarter U.S. GDP data, due on Thursday, and the core PCE price index, due on Friday.

Following significant losses the previous day, oil prices stabilised on Wednesday, supported by declining U.S. fuel stocks indicating strong demand in the world’s top oil consumer.

Late Tuesday, the American Petroleum Institute data revealed that US crude stocks decreased by slightly over 6 million barrels last week, exceeding the 1.7 million barrel expectation. In comparison, US petrol inventories decreased by 1.9 million barrels.

Later in the session, the Energy Information Administration is expected to provide the official figures.

U.S. oil futures were up 0.3% at $77.26 a barrel by 7:00 ET, while the Brent price was down slightly at $80.58.

Gold futures rose 0.2% to $2,009.00/oz, while EUR/USD traded 0.8% higher at 1.1057.