U.S. stock futures were higher early Wednesday after President Donald Trump announced a new trade deal with Japan. Also, the S&P 500 (SPX) rose to another record high. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 were up 0.18%, 0.03%, and 0.29%, respectively, at 4:04 a.m. EST on July 23.
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During Tuesday’s session, the S&P 500 closed at a record high for the second day in a row, rising 0.06%. The Dow gained nearly 0.4%, while the Nasdaq Composite fell 0.4% as chip stocks dropped.
In a trade update, Trump, in a Truth Social post, said the U.S. had finalized a “massive deal” with Japan that includes “reciprocal” 15% tariffs on Japanese exports to the U.S.
In after-hours trading, Kohl’s (KSS) stock gained over 4% amid the meme stock frenzy. Also, Capital One Financial (COF) jumped 3% on Q2 earnings beat. However, Enphase (ENPH) stock declined 8% after the solar company issued disappointing guidance. Further, Texas Instruments (TXN) fell 12% due to a conservative forecast for Q3.
Investors are now turning their attention to upcoming earnings reports from Alphabet (GOOGL) and Tesla (TSLA), both expected after the bell on Wednesday. These reports will be the first from the mega-cap Tech sector. Beyond these, AT&T (T), Chipotle Mexican Grill (CMG), QuantumScape (QS), and IBM (IBM) will also report results today.
On the economic front, traders will be looking at the Existing Home Sales data for the month of June. This report measures the sales volumes and prices of existing single-family homes, condos, and co-ops nationwide.
Meanwhile, the U.S. 10-year Treasury yield was up, floating near 4.38%. Also, WTI crude oil futures were trending higher, hovering near $65.44 per barrel as of the last check. However, the Gold Spot U.S. Dollar Price decreased to nearly $3,421 per ounce on Wednesday.
Elsewhere, European stocks opened higher today, lifted by improved global market sentiment following the U.S.-Japan trade deal.
Most Asia-Pacific Markets Ended Higher Today
Most Asia-Pacific markets ended higher today, buoyed by optimism after Trump announced a major trade deal with Japan.
The Hong Kong index was up 1.37%. Further, Japan’s Nikkei and Topix indices closed higher by 3.51% and 3.18%, respectively. At the same time, China’s Shanghai Composite Index ended slightly higher, up 0.01%, while the Shenzhen Component Index fell 0.37%.
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