Investing.com-- U.S. stock futures edged lower Tuesday evening following modest Wall Street gains amid easing trade tensions, while investors weighed economic data and corporate earnings with more to come later this week.

S&P 500 Futures ticked down 0.2% to 5,571.75 points, while Nasdaq 100 Futures fell 0.4%  to 19,561.75 points by 20:03 ET (00:03 GMT). Dow Jones Futures were unchanged at 40,653.0 points.

Easing trade tension signs push Wall St higher

President Trump signed two orders before the closing bell on Tuesday to ease the impact of auto tariffs, offering tax credits and tariff relief on materials.

The decision came as Trump visited Michigan, just before 25% tariffs on auto parts were set to begin.

In another positive note on the trade front, Commerce Secretary Howard Lutnick told CNBC that the U.S. was close to announcing a major trade deal.

The Dow Jones Industrial Average closed 0.8% higher, while the S&P 500 index gained 0.6%, and the NASDAQ Composite also added 0.6%.

Gains were limited in choppy trading, with investors still cautious as they awaited substantive signs of easing trade tensions.

Consumer confidence, JOLTS data in focus; PCE inflation awaited

Data on Tuesday showed that the consumer confidence index dropped to its lowest reading since May 2020.

Meanwhile, JOLTS Job Openings for March fell to 7.192 million from 7.48 million.

Investors now await the Federal Reserve’s preferred inflation gauge – the PCE price index , and the monthly U.S. jobs report.

The U.S. will also report its first-quarter gross domestic product (GDP) data this week.

Apple, Amazon, Meta results awaited amid busy earnings schedule

This is set to be a very busy earnings week, with about one-third of S&P 500-listed firms slated to post results this week.

On Tuesday, Coca-Cola Co (NYSE: KO ) stock gained 0.8% after the soft drinks giant reported a drop in first-quarter revenue despite price hikes.

Spotify (NYSE: SPOT ) dropped over 3% after issuing weaker-than-expected user growth guidance, while United Parcel Service Inc (NYSE: UPS ) dipped 0.5% despite beating earnings and revenue estimates.

Investors now await earnings from the “magnificent seven” megacaps, including Apple Inc (NASDAQ: AAPL ), Microsoft (ETR: MSFT ), Amazon (NASDAQ: AMZN ), and Meta Platforms (NASDAQ: META ), this week.

Microsoft and Meta are set to report on Wednesday, while Apple and Amazon are scheduled to report their earnings on Thursday.