Morning Movers: Starbucks climbs following reports of interest in China business

Stock market futures opened modestly higher, driven by cautious optimism following an overnight lull in volatility. Futures edged up as investors parsed the implications of President Trump’s expanded tariff announcements. This included hefty duties on copper, semiconductors, and pharmaceuticals scheduled for August 1, but markets held firm.

Copper prices remained a focal point with futures briefly spiking after the tariff news, then pulled back, signaling mixed signals on industrial demand and cost pressure in manufacturing sectors.

Tech shares are in focus once again, with Nvidia (NVDA) leading small gains in the pre-market after edging nearer to the $4T valuation mark.

Markets will also track incoming Q2 earnings, especially how companies are addressing trade-related cost burdens. Investors await clarity on tariffs, central bank signals, and corporate reports.

In pre-market trading, S&P 500 futures rose 0.18%, Nasdaq futures rose 0.16% and Dow futures rose 0.23%

Check out this morning’s top movers from around Wall Street, compiled by The Fly. Also, subscribe to daily Fly By on YouTube if you want to know how the markets will open, which stocks will be moving and why.  

HIGHER –

• SU Group (SUGP) up 162% after being awarded an $11.3M hospital contract in Hong Kong
• Verona Pharma (VRNA) up 20% after entering into a definitive agreement under which Merck (MRK), through a subsidiary, will acquire Verona Pharma for $107 per American depository share
• Gilat Satellite (GILT) up 4% after announcing that its Commercial Division has received over $22M in orders from leading satellite operators around the world
• Starbucks (SBUX) up 3% after Bloomberg reported that the company has been approached with proposals from prospective investors expressing interest in its China business

LOWER –

• BriaCell (BCTX) down 22% after announcing data from a patient treated with Bria-OTS
• Enphase Energy (ENPH) down 4% after Goldman Sachs downgraded Enphase Energy to Sell from Buy with a price target of $32, down from $77