U.S. stock futures are rising early Wednesday despite mixed corporate earnings and fresh tariff concerns. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.11%, 0.35%, and 0.30%, respectively, at 5:00 a.m. EST on August 6.
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In Tuesday’s trading session, major indexes ended in the red as investors reacted to weak economic data and ongoing tariff concerns. The U.S. trade deficit fell by 16% month-over-month in June to $60.2 billion, which is a good sign for the economy. However, the ISM Services Purchasing Managers’ Index (PMI) for July registered at 50.1, below the estimate for 51.5 and falling from 50.8 in June. Moreover, President Donald Trump warned of escalating tariffs on pharmaceutical imports, which could rise to as much as 250%. As a result, the S&P 500 closed down 0.49%, the Dow Jones fell 0.14%, and the Nasdaq Composite lost 0.65%.
After the markets closed yesterday, Snap (SNAP) shares plunged over 16% as the company’s revenue fell short of expectations. Additionally, Advanced Micro Devices (AMD) dropped about 4% after its adjusted EPS missed estimates.
There are no major economic data releases scheduled for today.
Looking ahead, investors await key earnings reports from Disney (DIS), Uber (UBER), and McDonald’s (MCD) before the market opens. Airbnb (ABNB), DoorDash (DASH), and Lyft (LYFT) are set to report their results after the market closes.
Meanwhile, the U.S. 10-year Treasury yield was up, floating near 4.23%. WTI crude oil futures were trending higher, hovering near $65.99 per barrel as of the last check. Additionally, the Gold Spot U.S. Dollar Price decreased to nearly $3,420 per ounce on Wednesday.
Elsewhere, European stocks opened higher today as investors parsed through positive earnings reports from major European companies and brushed off concerns regarding elevated tariff rates.
Asia-Pacific Markets Traded Higher Today
Asia-Pacific markets ended mostly higher today despite renewed tariff threats from U.S. President Donald Trump. Trump announced that the U.S. will soon impose new tariffs on semiconductors and chips to boost domestic chip manufacturing.
Hong Kong’s Hang Seng index rose 0.03%. In China, the Shanghai Composite index gained 0.45%, while the Shenzhen Component increased 0.81%. Similarly, Japan’s Nikkei rose 0.60%, and the Topix gained 1.02%.