U.S. stock futures are showing a mixed to slightly positive tone in premarket trading on Friday, July 25, 2025, as investors digest a flurry of corporate earnings, key economic data, and ongoing developments in international trade policy. Following a session where the S&P 500 and Nasdaq Composite notched new record highs, the market remains on edge, with some significant individual stock movements influencing the broader sentiment.
Premarket Activity and Futures Movements
As of early Friday morning, futures tied to the major U.S. indexes indicate a cautious start to trading. Dow Jones Industrial Average (DJIA) futures are up marginally by 0.05%, while S&P 500 (SPX) futures are also showing a slight increase of 0.07%. In contrast, Nasdaq 100 (NDX) futures are dipping slightly by 0.03%. This mixed performance in futures follows a day of divergent closes for the benchmarks, suggesting continued uncertainty as market participants weigh various catalysts. Overall, stock futures are largely unchanged as the trading day begins, with major indexes aiming to cap off the week with gains after a series of earnings reports.
Major Market Indexes: A Look Back at Thursday's Performance
Thursday, July 24, 2025, saw a bifurcated performance across the main U.S. stock indexes. The S&P 500 (SPX) continued its impressive run, climbing 0.1% to close at 6,363.35, marking its 13th closing high of the year. During intraday trading, the benchmark also reached a new all-time high of 6,381.31. Similarly, the tech-heavy Nasdaq Composite (IXIC) posted a new closing high, rising 0.2% to finish at 21,057.96, and touched an intraday record of 21,113.10. These gains were largely propelled by strong earnings from technology giants, particularly those involved in artificial intelligence.
However, the Dow Jones Industrial Average (DJIA) moved in the opposite direction, declining 0.7% or 316.38 points to close at 44,693.91. This dip in the Dow was influenced by a mixed bag of earnings results and ongoing concerns regarding trade policies. Despite Thursday's decline, the Dow remains less than 1% away from its all-time high set in December 2024.
Upcoming Market Events and Economic Data
The economic calendar for Friday, July 25, 2025, includes several data releases that investors will be closely monitoring. The June Durable Goods Orders data is scheduled for release, providing insights into manufacturing activity. Additionally, the St. Louis Fed Economic News Index and the New York Fed Staff Nowcast will be published. Earlier in the week, U.S. weekly initial unemployment claims unexpectedly fell by 4,000 to a three-month low of 217,000, signaling continued resilience in the labor market. However, June new home sales rose by a weaker-than-expected 0.6% month-over-month.
Looking ahead, a significant event on the horizon is the Federal Reserve's next policy meeting, scheduled for next week. Most analysts anticipate that the Fed will maintain interest rates within the 4.25% to 4.5% range. Beyond monetary policy, trade developments continue to be a focal point. The August 1st deadline for the U.S. to impose substantial tariffs on key trade partners looms large. President Trump recently announced a trade deal with Japan, which includes a 15% tax on imports, a reduction from the previously discussed 25%. Furthermore, U.S. Treasury Secretary Scott Bessent is slated to meet with Chinese officials in Stockholm, Sweden, ahead of an August 12th deadline to work towards a trade agreement.
Major Stock News and Corporate Announcements
Several major companies are making headlines today due to their earnings reports and corporate developments:
Alphabet Inc. (GOOGL) delivered strong second-quarter 2025 earnings, surpassing analyst expectations with a 7.44% beat on earnings per share and a 13.8% year-over-year increase in revenues to $96.43 billion. These robust results have further bolstered investor confidence in the technology sector, particularly in companies driving artificial intelligence advancements.
Conversely, Intel (INTC) shares experienced a significant drop of approximately 9% in premarket trading. This decline follows the chipmaker's unexpected loss reported for the second quarter, as the company intensifies its restructuring efforts.
In positive news, Deckers Outdoor (DECK), the parent company of popular footwear brands Ugg and Hoka, saw its shares jump by 11% in after-hours trading on Thursday. This surge came after the company reported better-than-expected earnings results.
Paramount Global (PARA) also saw a boost in its stock price after the Federal Communications Commission (FCC) approved its $8 billion merger with Skydance Media.
Electric vehicle giant Tesla (TSLA) is facing headwinds, with its stock plunging over 8% in premarket trading. The reasons for this significant premarket drop are likely being scrutinized by investors.
Other prominent technology companies such as Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Meta Platforms (META), and Broadcom (AVGO) saw modest gains of less than 1% in premarket trading, while Nvidia (NVDA) experienced a slight dip. It's worth noting that Microsoft, Apple, Amazon, and Meta are all scheduled to report their earnings next week, which could significantly impact market sentiment.
In other corporate news, IBM (IBM) fell more than 7% after reporting weaker-than-expected second-quarter software revenue. Charter Communications (CHTR) also saw a decline of 9%.
Several companies are scheduled to report earnings before the bell today, including Eni (E), NatWest Group (NWG), Virtus Inv (VRTS), HCA Healthcare, Inc. (HCA), Aon (AON), Phillips 66 (PSX), and Booz Allen (BAH). Lear Corporation (LEA) also reported its second-quarter 2025 results, with revenue in line with the prior year and restored full-year guidance.
As the trading day progresses, market participants will continue to monitor these developments closely, with earnings reports, economic data, and geopolitical trade tensions shaping the narrative for Friday's session.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.