
S&P 500 futures held steady Wednesday night following a record close, supported by trade deal optimism. The index futures rose 0.1%, Nasdaq 100 futures gained 0.4%, while Dow futures dipped 0.2%. Post-earnings, Alphabet climbed 2% on strong results, while Tesla fell 4% after disappointing auto revenue.
Alphabet beat Q2 revenue and earnings expectations but plans to increase 2025 capital investments by $10 billion. Revenue grew 14% year over year, exceeding Wall Street’s 10.9% expectation, though AI spending will increase beyond initial projections.
On the other hand, Tesla reported a 16% lower automotive revenue with sales declining for a second consecutive quarter, missing analyst expectations. Shares fell over 4% after hours as executives discussed tariff impacts and the upcoming end of federal EV tax credits. Tesla’s Q2 vehicle deliveries declined 14% year-over-year to 384,000 units.
On Wednesday, S&P 500 rose 0.8% to a new record close. The Dow Jones gained 1.14%, and The Nasdaq added 0.6% during the session.
European markets gained Wednesday on potential U.S.-EU trade agreement progress. Stocks surged after reports of nearing a 15% tariff deal.
Donald Trump will visit the Federal Reserve on Thursday, which marks the first presidential visit to the central bank in nearly two decades.
The crypto market fell for the second day in a row. Ether dropped more than 3% and it’s trading back in the $3,500 levels today. Bicoin continues to trade sideways in a range between $116,00 and $120,000
And in the Forex market, all major currencies jumped against the U.S. Dollar. EURUSD was up 0.15%, nearing the 1.1800 level again. GBPUSD added 0.37% to 1.3580.
Gold prices fell sharply yesterday, losing more than 1%. The precious metal is currently trading at $3,375. While silver revisited another record from 2011 as it reached $39.50 per ounce during the session.
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