Stock futures opened the week under a cloud of caution as investors braced for potential new tariffs and fresh political friction. Sentiment remains fragile after President Trump signaled over the weekend that additional duties could target BRICS-aligned nations and with formal tariff letters expected as soon as July 9, traders look reluctant to add risk.
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Oil prices are holding near $67-$68 per barrel as OPEC+ confirmed a planned production increase, balancing supply concerns with easing inflation pressures.
In pre-market trading, S&P 500 futures fell 0.28%, Nasdaq futures fell 0.43% and Dow futures fell 0.07%
Check out this morning’s top movers from around Wall Street, compiled by The Fly. Also, subscribe to the daily Fly By on YouTube if you want to know how the markets will open, which stocks will be moving and why.
HIGHER –
- Cogent Biosciences (COGT) up 18% after announcing top-line results from the registration-directed Part 2 of the SUMMIT clinical trial of bezuclastinib demonstrated clinically meaningful and highly statistically significant improvements across the primary and all key secondary endpoints
- WNS Holdings (WNS) up 13% after entering into a definitive transaction agreement pursuant to which Capgemini will acquire WNS for a cash consideration of $76.50 per WNS share
- Geo Group (GEO) and CoreCivic (CXW) up 7% and 5%, respectively, amid indications that President Trump’s Big Beautiful Bill will lead to increased demand for detention capacity
- Apogee Therapeutics (APGE) up 4% after Part A of the Phase 2 APEX clinical trial of APG777 met all primary and secondary endpoints
LOWER –
- Tesla (TSLA) down 6% after Elon Musk revealed plans to start a new political party, triggering a response from Trump
- Shell (SHEL) down 2% after issuing an update for Q2 expectations
- MGM Resorts (MGM) down 2% after Goldman Sachs initiated coverage of the stock with a Sell rating and $34 price target
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