Morning Movers: Wingstop jumps after second quarter report and dividend raise

Stock futures are slightly higher as investors digest a trifecta of the Federal Reserve’s policy decision, early GDP data and Q2 earnings from megacaps.

Markets have put trade worries on hold after recent deals with the EU, Japan, Indonesia, and the Philippines, despite President Trump announcing this morning that he is placing a 25% tariff on goods from India.

The Fed is widely expected to keep rates unchanged in the 4.25%-4.5% range, but markets will be listening closely to Chair Jerome Powell during his press briefing for any signals of internal dissent or clues about the timing of potential rate cuts.

Corporate earnings are shaping sentiment too with Microsoft and Meta due to report after the close, with analysts expecting strong top-line growth and guidance updates.

Oil is down slightly, gold is near flat and bitcoin remains stable at around $118,000.

In pre-market trading, S&P 500 futures rose 0.11%, Nasdaq futures rose 0.19% and Dow futures rose 0.04%

Check out this morning’s top movers from around Wall Street, compiled by The Fly and subscribe to the daily Fly By on YouTube. 

UP AFTER EARNINGS –

• Wingstop (WING) up 22%
• VF Corp. (VFC) up 19%
• Harley-Davidson (HOG) up 15%
• Humana (HUM) up 10%
• Etsy (ETSY) up 6%
• Hershey (HSY) up 3%
• Kraft Heinz (KHC) up 1%
• Qorvo (QRVO) up 9%
• Starbucks (SBUX) up 5%

DOWN AFTER EARNINGS –

• Check Point (CHKP) down 6%
• United Therapeutics (UTHR) down 4%
• GE HealthCare (GEHC) down 1%
• Avis Budget (CAR) down 6%
• Caesars (CZR) down 1%

LOWER-

• Palo Alto Networks (PANW) down 5% after the company announced an agreement to acquire CyberArk (CYBR) for $45.00 in cash and 2.2005 shares of Palo Alto Networks common stock for each CyberArk share