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Yahoo
16 minutes ago
- Yahoo
Stock Index Futures Muted as Investors Await U.S. GDP Data and Fed Rate Decision, Microsoft and Meta Earnings on Tap
September S&P 500 E-Mini futures (ESU25) are up +0.04%, and September Nasdaq 100 E-Mini futures (NQU25) are up +0.10% this morning, pointing to a cautious open on Wall Street as investors await the Federal Reserve's policy decision, a fresh batch of U.S. economic data, including the ADP employment report and the first estimate of second-quarter GDP, as well as earnings reports from 'Magnificent Seven' companies Microsoft and Meta. In yesterday's trading session, Wall Street's major indexes ended in the red. United Parcel Service (UPS) slumped over -10% and was among the top percentage losers on the S&P 500 after the delivery company reported weaker-than-expected Q2 adjusted EPS and said it would not provide full-year revenue or operating profit guidance due to macroeconomic uncertainty. Also, Brown & Brown (BRO) plunged more than -10% after the company posted weaker-than-expected Q2 organic revenue growth. In addition, UnitedHealth Group (UNH) fell over -7% and was the top percentage loser on the Dow after the company reported weaker-than-expected Q2 adjusted EPS and provided below-consensus FY25 guidance. On the bullish side, Corning (GLW) surged more than +11% and was the top percentage gainer on the S&P 500 after the maker of specialty glass and ceramics reported better-than-expected Q2 results and issued above-consensus Q3 core EPS guidance. More News from Barchart Here's What Happened the Last Time Novo Nordisk Stock Was This Oversold Earnings Will Be 'Worse Than Expected' for UnitedHealth. How Should You Play UNH Stock Here? As SoFi Raises 2025 Guidance, Should You Buy, Sell, or Hold SOFI Stock Here? Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! A Labor Department report released on Tuesday showed that U.S. JOLTs job openings fell to 7.437 million in June, weaker than expectations of 7.510 million. At the same time, the U.S. Conference Board's consumer confidence index rose to 97.2 in July, stronger than expectations of 95.9. In addition, the U.S. May S&P/CS HPI Composite - 20 n.s.a. eased to +2.8% y/y from +3.4% y/y in April, weaker than expectations of +2.9% y/y. 'Overall, it was a mixed round of data that has done little to materially challenge the price action or macro narrative,' said Ian Lyngen at BMO Capital Markets. Today, all eyes are focused on the Federal Reserve's monetary policy decision. The Federal Open Market Committee is widely expected to keep the Fed funds rate unchanged in a range of 4.25% to 4.50%. The decision comes amid intense political pressure, evolving trade policy, and economic cross-currents. Market watchers will follow Chair Jerome Powell's post-policy meeting press conference for any indication of a greater openness from the central bank to ease policy when it next meets in September. Second-quarter corporate earnings season continues in full force. Investors will be closely monitoring earnings reports today from 'Magnificent Seven' companies Microsoft (MSFT) and Meta Platforms (META). Prominent companies like Qualcomm (QCOM), Arm (ARM), Lam Research (LRCX), and Altria (MO) are also scheduled to release their quarterly results today. According to Bloomberg Intelligence, companies in the S&P 500 are expected to post an average +4.5% increase in quarterly earnings for Q2 compared to the previous year, exceeding the pre-season estimate of +2.8%. On the economic data front, investors will focus on the Commerce Department's first estimate of gross domestic product, set to be released in a couple of hours. Economists, on average, forecast that U.S. GDP growth will stand at +2.5% q/q in the second quarter, compared to the first-quarter figure of -0.5% q/q. The U.S. ADP Nonfarm Employment Change data will also be closely monitored today. Economists expect the July figure to come in at 77K, compared to the June figure of -33K. U.S. Pending Home Sales data will be reported today. Economists forecast the June figure at +0.2% m/m, compared to the previous figure of +1.8% m/m. U.S. Crude Oil Inventories data will be released today as well. Economists expect this figure to be -2.300M, compared to last week's value of -3.169M. In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.326%, down -0.21%. The Euro Stoxx 50 Index is up +0.28% this morning as investors digest key economic data from the region and fresh corporate earnings reports, while also awaiting the Federal Reserve's interest rate decision. Energy stocks led the gains on Wednesday, while chemical and automobile stocks lost ground. Preliminary data from Eurostat released on Wednesday showed that the Eurozone economy slowed in the second quarter but demonstrated resilience, signaling a potential rebound in the coming months despite higher U.S. tariffs on its exports. Separately, a survey showed that the Eurozone business sentiment indicator rose to a 5-month high in July. In addition, the European Central Bank's wage tracker showed on Wednesday that wage growth in the Eurozone will slow significantly this year, reinforcing the bank's view that excessive inflation has now been brought under control. Meanwhile, earnings projections released on Tuesday showed that the outlook for European corporate health has brightened, following the EU's trade agreement with the U.S. In corporate news, HSBC Holdings Plc ( fell over -2% after the lender posted weaker-than-expected first-half pretax profit. Also, Adidas AG ( slumped more than -6% after cautioning that higher U.S. tariffs would tack on roughly 200 million euros ($231 million) to its costs in the second half. Germany's Retail Sales, Spain's CPI (preliminary), Eurozone's GDP (preliminary), Eurozone's Business and Consumer Survey, and Eurozone's Consumer Confidence data were released today. The German June Retail Sales rose +1.0% m/m, stronger than expectations of +0.5% m/m. The Spanish July CPI rose +2.7% y/y, stronger than expectations of +2.3% y/y. Eurozone's GDP has been reported at +0.1% q/q and +1.4% y/y in the second quarter, stronger than expectations of no change q/q and +1.2% y/y. Eurozone's July Business and Consumer Survey stood at 95.8, stronger than expectations of 94.5. Eurozone's July Consumer Confidence came in at -14.7, in line with expectations. Asian stock markets today settled mixed. China's Shanghai Composite Index (SHCOMP) closed up +0.17%, and Japan's Nikkei 225 Stock Index (NIK) closed down -0.05%. China's Shanghai Composite Index closed higher and hit a 9-month high today as investors found some relief from the prospects that the U.S.-China tariff truce will be extended. U.S. and Chinese officials agreed on Tuesday to seek an extension of their 90-day tariff truce, following two days of what both sides called constructive talks aimed at defusing a trade war that poses risks to global growth. U.S. President Donald Trump is set to make the final decision on extending the truce with China before it expires in two weeks, a move that would signal continued stabilization in relations between the world's two largest economies. U.S. Treasury Secretary Scott Bessent downplayed any expectations that Trump would reject the extension. Meanwhile, Chinese leaders signaled they would hold off on introducing additional major stimulus for now, as authorities shift their focus to tackling excess capacity in the economy. The ruling Communist Party's Politburo, China's top policymaking body, vowed on Wednesday to more effectively implement existing pro-growth measures, according to a readout by state-run Xinhua News Agency. Authorities will tackle excessive competition among enterprises and promote the regulation of overcapacity in major industries, while also tightening oversight of local government investment-attraction practices, according to the readout. The Politburo meeting maintained a cautious policy stance, reaffirming macroeconomic guidance issued in April. 'Macroeconomic policies must remain robust and be strengthened when necessary,' it said. In corporate news, Li Auto tumbled over -12% in Hong Kong as investors grew concerned over the pricing of its first all-electric SUV, the Li i8, and rising competition. Japan's Nikkei 225 Stock Index closed just below the flatline today as investors refrained from making big bets ahead of policy decisions from the Fed and Bank of Japan, along with U.S. President Donald Trump's tariff deadline. Retail and chip stocks underperformed on Wednesday, while real estate and bank stocks gained ground. On Friday, the majority of U.S. trading partners that have yet to finalize agreements with Washington will be subjected to higher reciprocal tariffs. Maki Sawada, an equities strategist at Nomura Securities, said, 'There are still a lot of uncertainties over tariffs, and that's going to limit the upside for stocks.' Meanwhile, BofA Global Research lifted its year-end forecast for the Nikkei 225 Index to 43,000 from 40,000. The new forecast reflects the U.S.-Japan trade deal, expectations for Japan's fiscal expansion, and a favorable supply-demand environment, according to strategists. Investor focus is now on the Bank of Japan's monetary policy decision. The central bank is widely expected to hold its policy rate steady at 0.5% at its two-day meeting concluding Thursday. Governor Kazuo Ueda's reaction to the U.S. trade deal will be in focus after his deputy stated that the agreement increased the chances of economic projections being met, a key condition for an additional rate hike. The central bank will also release its quarterly projections for growth and inflation. In other news, Japan's ruling coalition agreed on Wednesday with four major opposition parties to scrap a provisional gasoline tax as early as this year, yielding to opposition pressure after a major election loss. In corporate news, ANA Holdings slid over -4% after the airline reported a 7.1% drop in Q1 net income. The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed up +1.45% to 23.04. Pre-Market U.S. Stock Movers LendingClub (LC) jumped over +23% in pre-market trading after the company posted upbeat Q2 results and issued strong Q3 guidance for loan originations and preprovision net revenue. Starbucks (SBUX) climbed more than +4% in pre-market trading after the coffee chain reported better-than-expected FQ3 revenue. Seagate Technology (STX) slumped over -6% in pre-market trading after the data storage company issued soft FQ1 guidance. You can see more pre-market stock movers here Today's U.S. Earnings Spotlight: Wednesday - July 30th Microsoft (MSFT), Meta Platforms (META), Qualcomm (QCOM), Arm (ARM), Lam Research (LRCX), ADP (ADP), UBS Group (UBS), Trane Technologies (TT), Altria (MO), Robinhood Markets (HOOD), Equinix (EQIX), Illinois Tool Works (ITW), Carvana (CVNA), Canadian Pacific Kansas City (CP), Agnico Eagle Mines (AEM), American Electric Power (AEP), Vertiv Holdings Co (VRT), Public Storage (PSA), Fannie Mae (FNMA), Garmin (GRMN), Ford Motor (F), Kenvue (KVUE), Verisk (VRSK), Entergy (ETR), Hershey Co (HSY), Cognizant (CTSH), Fair Isaac (FICO), Prudential Financial (PRU), eBay (EBAY), DexCom (DXCM), VICI Properties (VICI), WEC Energy (WEC), Old Dominion Freight Line (ODFL), Kraft Heinz (KHC), Extra Space Storage (EXR), Tradeweb Markets (TW), Ventas (VTR), Banco Bradesco (BBD), AvalonBay (AVB), Humana (HUM), American Water Works (AWK), Smurfit Westrock (SW), Western Digital (WDC), PTC (PTC), FirstEnergy (FE), Tyler Technologies (TYL), Check Point Software (CHKP), CGI Inc (GIB), AerCap Holdings NV (AER), Invitation Homes (INVH), Kinross Gold (KGC), Carlisle (CSL), Mid-America Apartment (MAA), Gfl Environmental (GFL), Watsco (WSO), Fortive (FTV), F5 Networks (FFIV), Sun (SUI), Sprouts Farmers (SFM), Bunge (BG), Align (ALGN), Hologic (HOLX), UDR (UDR), Everest (EG), Entegris (ENTG), IDEX (IEX), United Therapeutics (UTHR), Neurocrine (NBIX), Clean Harbors (CLH), Evercore (EVR), Morningstar (MORN), CH Robinson (CHRW), Host Hotels Resorts (HST), Stifel (SF), Pilgrims Pride (PPC), Aurora Innovation (AUR), Penske Automotive (PAG), Alamos Gold (AGI), SCI (SCI), Antero Resources Corp (AR), MGM (MGM), Tetra Tech (TTEK), Confluent (CFLT), Generac (GNRC), OGE Energy (OGE), TIM Participacoes (TIMB), Hess Midstream Partners (HESM), Albemarle (ALB), Murphy USA Inc (MUSA), Antero Midstream (AM), Wingstop Inc (WING), National Fuel Gas (NFG), New Oriental Education&Tech (EDU), Virtu Financial Inc (VIRT), Ionis Pharma (IONS), Federal Signal (FSS), Gates Industrial Corp (GTES), Axalta Coating Systems (AXTA), Etsy Inc (ETSY), Comstock Resources (CRK), MGIC Investment (MTG), The Hanover Insurance (THG), Silgans (SLGN), Modine Manufacturing (MOD), Siteone Landscape Supply (SITE), Cognex (CGNX), Littelfuse (LFUS), Element Solutions (ESI), Q2 Holdings (QTWO), Timken (TKR), Guardant Health (GH), Glaukos Corp (GKOS), SPS Commerce (SPSC), Enact Holdings (ACT), FMC (FMC), Kite Realty (KRG), Bausch + Lomb (BLCO), Option Care Health (OPCH), TTM (TTMI), Merit (MMSI), Axos Financial (AX), VF (VFC), Magnolia Oil (MGY), Radian (RDN), Reynolds (REYN), EPR Properties (EPR), Independence Realty Trust Inc (IRT), Black Hills (BKH), Tenable (TENB), CBIZ (CBZ), Scotts Miracle-Gro (SMG), Cactus (WHD), Newmark Group (NMRK), Impinj (PI), TransMedics (TMDX), Rush Street Interactive (RSI), Hawkins (HWKN), Genworth (GNW), Blackstone Mortgage (BXMT), Hayward Holdings (HAYW), NorthWestern (NWE), Broadstone Net (BNL), MYR Group (MYRG), Blackbaud (BLKB), VSE Corporation (VSEC), Green Brick Partners Inc (GRBK), CVR Energy (CVI), Alkami Technology (ALKT), Harley-Davidson (HOG), FormFactor (FORM), Urban Edge Properties (UE), Methanex (MEOH), Silicon Motion (SIMO), Applied Digital (APLD), The Chefs Warehouse (CHEF). On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16 minutes ago
- Yahoo
Amazon still the online retailer of choice as cloud business faces competition
By Arriana McLymore and Deborah Mary Sophia (Reuters) -Amazon will seek to reassure investors on Thursday that its cloud business, a critical driver of profits, is growing at a fast enough clip to offset any pullback in consumer spending that could throttle its retail operations. The tech giant's revenue likely increased 9.5% in the second quarter to $162.08 billion, according to data from LSEG, accelerating from the first quarter and largely in line with the year-ago period. Amazon Web Services (AWS), the cloud unit that accounts for less than a fifth of the company's sales but typically about 60% of its profit, likely grew 17% in the April-June period. Amazon, like its rivals Alphabet and Microsoft, has invested heavily to increase capacity at its data centers to meet demand for its traditional cloud services as well as the surge in generative AI services. While AWS and Microsoft's Azure are the dominant cloud providers, Alphabet's Google has recently bagged some big deals, including one with OpenAI, and last week it cited massive demand for its cloud services for boosting spending plans for the year. Google's strong performance has sparked worries that the company could be taking market share from AWS, which analysts said could prompt Amazon to increase its own capital expenses as well, as could Microsoft when it announces its results on Wednesday. "We have heard murmurs that AWS' struggle to develop a strong AI model has fueled a perception that it is trailing behind Google within AI development," Scotiabank analysts said, adding they expect margins at AWS to also pull back from the 39.5% seen in the first quarter. On Thursday, though, investors will pay more attention than usual to Amazon's e-commerce business, which has so far well withstood the pressures stemming from U.S. President Donald Trump's tariff threats and trade deals. Sellers still prefer to hawk their wares on as the e-commerce giant has cemented the top spot in offering low prices, convenience, and product selection. Amazon said in May that third-party sellers on were pulling forward orders to boost inventory, and the company was pushing them to keep prices as low as possible. Walmart, the world's largest retailer, said in May it would start raising prices due to tariffs. "Amazon remains the go-to destination for online deals and continues to draw strong consumer and brand engagement ... price increases have been more muted than expected, and second-quarter sales were solid as consumer spend stayed resilient," Jefferies analyst Brent Thill said. Inventory levels also "appear healthy" across most sellers on Amazon heading into the key back-to-school and holiday shopping seasons, Thill added. Many consumer-facing companies have warned that tariffs are hitting their business. Automakers and consumer food giants including Coca-Cola have indicated that some segments of the buying public have pulled in their spending. While major retailers slowed or halted orders for China-made goods and discretionary merchandise earlier in the year, brands are expecting improvements in sales in the current quarter as trade negotiations settle, analysts said. Evercore analysts said a survey conducted by the brokerage found that 95% of respondents picked Amazon as their most common go-to website for shopping online this year. That represented an increase of 5% from 2024. Preference for the No. 2 and No. 3 rivals - Walmart and Target - declined 7% and 3%, respectively. "While tariff uncertainty creates a challenge for Amazon and every other retailer, our strong belief is that given its scale, supply diversification, and logistics sophistication, Amazon will be better able to manage tariff challenges than practically any other company," Evercore analysts said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Tom's Guide
18 minutes ago
- Tom's Guide
PS5 DualSense Edge gets biggest discounts of the year so far — here's how to save $30 now
The DualSense Edge has been one of the best PS5 controllers since its release in early 2023. But there's always been one sticking point that prevents me from recommending to every PlayStation owner: The eyewatering $199 price tag. But this $30 off deal changes that. Right now, you can pick up a DualSense Edge controller for $169 at PlayStation Direct. That's a 15% saving, and the biggest discount on the ultra premium PS5 controller I've spotted so far this year. It also matches its lowest price ever, last seen during Days of Play 2025. This deal is locked behind a coupon code, so you'll need to enter 'EVO2025' at checkout to save $30. This code will be valid through August 4 and marks this weekend's EVO 2025 esports tournament. Take your PS5 gaming up a level with the DualSense Edge. The first official "pro" controller created by Sony, it's the most premium version of the DualSense, allowing you to fully customise your play experience. You tweak stick sensitivity and dead zones, and even remap each button individually. Plus, it includes adjustable back buttons. To get this deal, remember to enter coupon code "EVO2025" at checkout. The DualSense Edge is an upgraded version of the PS5's stock controller, and Sony's long-awaited answer to Microsoft's Xbox Elite controller. Its headline features are customizable back buttons, swappable stick modules and greater user options allowing you to tweak settings like stick sensitivity, dead zones, and vibration intensity. The controller also allows you to set custom profiles, so you can easily swap between settings depending on what games you're playing currently. The removable stick modules are also helpful should you encounter the dreaded stick drift. You won't need to purchase a completely new pad. Instead, you can just swap out the sticks. In our DualSense Edge review, we said, 'The DualSense Edge is a fantastic, highly customizable controller that should be easier to recommend than it actually is. If it was $50 cheaper and battery life was a little better, the DualSense Edge would be the best gamepad.' And while this $30 discount doesn't quite hit the $50 cheaper price point our reviewer wanted to see, it does get the Edge much closer to being considered good value for money. Beyond the price, its only major weakness is the poor battery life, which is worse than the standard DualSense. That's especially disappointing as the regular PS5 pad is notorious for running out of juice by the end of even a modestly long play session. Still, so long as you've got the supplied USB-C cable to hand, this issue becomes only a minor annoyance and not a dealbreaker. Nevertheless, if you're a dedicated PlayStation gamer, you'll want to consider upgrading to a DualSense Edge. If you take your online gaming seriously, it might just give you a slight advantage in a hectic firefight, which can be the difference between victory and defeat. And thanks to this limited-time deal, now is the best time to buy one.