Morning Movers: Under Armour sinks following second quarter earnings

Stock futures are edging higher amid growing expectations that the Federal Reserve may move toward dovish policies, spurred by President Trump’s nomination of Stephen Miran as an interim Fed governor. Investors are now pricing in increased odds for rate cuts and markets are responding to the possibility of looser monetary policy while still digesting the implications for central bank independence.

Tech stocks are holding the upper hand, with the Nasdaq hitting another record closing high, but the rally isn’t universal with sectors like pharma and tech hardware remaining under pressure.

In pre-market trading, S&P 500 futures rose 0.24%, Nasdaq futures rose 0.20% and Dow futures rose 0.19%

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

UP AFTER EARNINGS –

• Expedia (EXPE) up 14%
• Block (XYZ) up 8%
• Monster Beverage (MNST) up 8%
  
• ANI Pharmaceuticals (ANIP) up 14%
• Alpha Metallurgical (AMR) up 9%
• Tempus AI (TEM) up 9%
• AMC Networks (AMCX) up 8%
• Revelation Biosciences (REVB) up 6%
• FuboTV (FUBO) up 4%

DOWN AFTER EARNINGS –

• Trade Desk (TTD) down 32%
• Pinterest (PINS) down 12%
• Heron Therapeutics (HRTX) down 21%
• Akari Therapeutics (AKTX) down 18%
• Under Armour (UA) down 17%
• Lamar Advertising (LAMR) down 3%
• Wendy’s (WEN) down 1%
• Sylvamo (SLVM) down 1%