U.S. stock futures were mixed early Thursday as investors reacted to news that President Donald Trump will visit the Federal Reserve, highlighting his recent tensions with Chair Jerome Powell. Futures on the Nasdaq 100 (NDX) and the S&P 500 (SPX) were up 0.27% and 0.04%, respectively, at 4:23 a.m. EST, July 24, while the Dow Jones Industrial Average (DJIA) futures were down 0.32%.
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This marks the first official visit by a U.S. president to the Federal Reserve in almost 20 years.
In a separate development, the Financial Times reported that the U.S. was making progress toward a trade deal with the European Union.
During Wednesday’s session, the S&P 500, the Dow Jones, and the Nasdaq Composite gained 0.78%, 1.14%, and 0.61%, respectively.
After the market closed on Wednesday, two of the “Magnificent Seven” mega-cap stocks, Alphabet (GOOGL) and Tesla (TSLA), released their earnings reports. Alphabet’s stock rose over 1% after the company beat Q2 earnings and revenue estimates. Meanwhile, Tesla stock dropped about 4% after disappointing investors with lower automotive revenue.
Beyond the tech heavyweights, other key movers included ServiceNow (NOW), which surged more than 7% following upbeat guidance. On the flip side, International Business Machines (IBM) declined 5% after posting its fiscal Q2 earnings. Meanwhile, QuantumScape (QS) also slipped, despite beating estimates for the second quarter.
Looking ahead to Thursday, companies such as Honeywell (HON), American Airlines (AAL), and Intel (INTC) are slated to release results.
On the economic front, traders will closely monitor weekly Jobless Claims Data, the latest reading on July’s Purchasing Managers’ Index (PMI), and June’s New Home Sales figures.
Meanwhile, the U.S. 10-year Treasury yield was up, floating near 4.41%. Also, WTI crude oil futures were trending higher, hovering near $65.74 per barrel as of the last check. However, the Gold Spot U.S. Dollar Price decreased to nearly $3,366 per ounce on Thursday.
Elsewhere, European stocks opened higher today, lifted by trade optimism following reports of a potential U.S.-EU deal to impose 15% tariffs on select imports.
Asia-Pacific Markets Ended Higher Today
Asia-Pacific markets ended higher today, boosted by progress in U.S.-Japan trade talks and growing hopes for a U.S.-EU deal.
The Hong Kong index was up 0.51%. Further, Japan’s Nikkei and Topix indices closed higher by 1.59% and 1.75%, respectively. At the same time, China’s Shanghai Composite and the Shenzhen Component indices rose 0.65% and 1.21%, respectively.
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