U.S. stock futures were down early Wednesday as investors braced for key economic data and a slew of corporate earnings. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.33%, 0.09%, and 0.19%, respectively, at 5:04 a.m. EST, July 16.
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In Tuesday’s regular session, the S&P 500 and the Dow Jones declined 0.4% and 1%, respectively. However, the Nasdaq Composite rose 0.2% to achieve a record close. The tech index was lifted by Nvidia (NVDA), which jumped 4% after the company said it expects to resume H20 chip sales to China “soon.”
The market sentiment was influenced by June’s consumer inflation report, which revealed a 0.3% monthly increase and a 2.7% year-over-year rate, in line with consensus estimates.
On the trade front, the U.S. has secured a trade deal with Indonesia. The U.S. will place a 19% tariff on Indonesian goods, down from the 32% rate that would have been effective August 1.
Separately, earnings season picks up pace today, with major banks including Bank of America (BAC), Goldman Sachs (GS), and Morgan Stanley (MS) set to report before the bell. Key names like Johnson & Johnson (JNJ) and United Airlines (UAL) will also release their quarterly results.
Looking ahead, investors await another key inflation update today, the Producer Price Index (PPI) report for June. Economists currently predict a 0.2% month-over-month increase.
Meanwhile, the U.S. 10-year Treasury yield was down, floating near 4.48%. Also, WTI crude oil futures were trending lower, hovering near $66.44 per barrel as of the last check. At the same time, the Gold Spot U.S. Dollar Price increased to nearly $3,340 per ounce on Wednesday.
Elsewhere, European stocks opened lower today, after Netherlands-based semiconductor equipment company ASML Holding (ASML) plunged over 8% in today’s pre-market trading. The company warned of flat growth in 2026 due to weak demand and possible U.S. tariffs on its chip tools.
Asia-Pacific Markets Ended Lower Today
Asia-Pacific indices were in the red today after Trump announced a preliminary trade deal with Indonesia, which includes a 19% tariff on its exports to the U.S.
At the same time, the Hong Kong index was down 0.29%. Further, China’s Shanghai Composite and Shenzhen Component indices closed lower by 0.04% and 0.22%, respectively. Also, Japan’s Nikkei and Topix indices declined 0.04% and 0.21%, respectively.
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