U.S. stock futures are inching higher early Friday despite the initial jobless claims number coming in higher-than-expected. For the week ending August 2, continuing jobless claims increased by 38,000 to 1.974 million, marking their highest level since November 2021. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.23%, 0.13%, and 0.22%, respectively, at 4:40 a.m. EST on August 8.
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In Thursday’s trading session, the Dow recorded its second loss in three days. The Dow and the S&P 500 closed down 0.51% and 0.08%, respectively, while the Nasdaq Composite was the only major index to finish higher, up 0.35%.
Meanwhile, chipmaker Intel’s (INTC) stock dropped as President Donald Trump posted in his Truth Social that “The CEO of INTEL is highly CONFLICTED and must resign, immediately,” citing Lip-Bu Tan’s Chinese ties.
After the markets closed yesterday, SoundHound AI (SOUN) stock jumped 14% in extended trading, following the company’s strongest quarter ever. Additionally, Block’s (XYZ) stock rose 8% after the payments firm reported strong gross profit growth in Q2, despite missing earnings expectations. Pinterest (PINS) stock fell 10% after the social media company reported mixed second-quarter financial results, with earnings missing consensus estimates.
There are no important economic data releases scheduled for today.
As earnings season progresses, investors are looking forward to reports from companies such as Under Armour (UAA), AMC Networks (AMCX), Tempus AI (TEM), fubo TV (FUBO), and Wendy’s (WEN).
Meanwhile, the U.S. 10-year Treasury yield was up, floating near 4.25%. WTI crude oil futures were trending lower, hovering near $63.31 per barrel as of the last check. Additionally, the Gold Spot U.S. Dollar Price increased to nearly $3,499 per ounce on Friday.
Elsewhere, European stocks opened mostly in the green today after a top advisor to Putin confirmed a Trump-Putin meeting and following a healthy slate of earnings releases from European companies.
Asia-Pacific Markets Traded Lower Today
Asia-Pacific markets traded lower today as tariff concerns and weak economic data across the region pressured shares.
Hong Kong’s Hang Seng index fell 0.89%. In China, the Shanghai Composite index dropped 0.12%, while the Shenzhen Component was down 0.23%. On the contrary, Japan’s Nikkei rose 1.85%, and the Topix gained 1.21%.