Major Indexes Hold Steady in Early Trading
U.S. stock futures are showing minimal movement early Thursday, July 10, 2025, as markets digest recent gains and investors await key economic data. The S&P 500 futures are down 0.11%, Nasdaq 100 futures are slightly lower by 0.08%, and Dow Jones Industrial Average futures have dipped 0.17% in premarket trading.
This follows Wednesday’s session where the Nasdaq Composite closed at a new record high, driven by strong performance in technology stocks, particularly Nvidia, which has been leading the ongoing tech rally. Bitcoin also made headlines yesterday by topping $112,000, marking its first record since May.
The market’s cautious stance comes amid persistent trade uncertainty following President Trump’s recent extension of the deadline on tariffs, which has kept investors on edge throughout the week. Despite these concerns, major indexes remain near their all-time highs as we approach the heart of earnings season.
Earnings Season Kicks Off with Delta Air Lines Leading Today’s Reports
Delta Air Lines (DAL) headlines today’s earnings calendar, with the airline expected to report second-quarter results before the market opens. Analysts forecast earnings per share of $2.01, representing a 14.83% decrease compared to the same quarter last year. The airline industry continues to navigate challenges including higher fuel costs and operational pressures.
Other notable companies reporting premarket today include ConAgra Brands (CAG), with expected earnings of $0.59 per share, and The Simply Good Foods Company (SMPL), projected to report $0.47 per share. Byrna Technologies (BYRN), Helen of Troy (HELE), and Northern Technologies International (NTIC) round out today’s premarket earnings lineup.
Today’s reports mark the beginning of what promises to be a busy earnings season, with major financial institutions including JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC) scheduled to report next week, officially kicking off the second-quarter earnings season in earnest.
Premarket Movers: Biotechs and Food Companies Lead Gainers
Several stocks are making significant moves in premarket trading. Among the top gainers, Steakholder Foods Ltd. (STKH) is surging an impressive 137.14%, trading at $4.15 on heavy volume of nearly 13 million shares. WK Kellogg Co (KLG) is also showing strong momentum, up 53.94% at $26.94.
The biotech sector is seeing notable activity with IGC Pharma (IGC) rising 49.81% to $0.55 and Klotho Neurosciences (KLTO) gaining 44.89% to $1.99. Nurix Therapeutics (NRIX) is also performing well, up 34.22% at $17.69.
On the downside, Mereo BioPharma Group (MREO) leads the premarket losers with a 35.71% drop to $1.89. Other significant decliners include Creative Medical Technology Holdings (CELZ), down 24.11%, and Ultragenyx Pharmaceutical (RARE), falling 21.57% to $32.50.
Upcoming Market Events and Economic Data
Investors are closely watching for tomorrow’s release of the Consumer Price Index (CPI) data, which will provide crucial insights into inflation trends and potentially influence Federal Reserve policy decisions. Market participants are particularly focused on whether inflation continues to moderate, which could support the case for interest rate cuts later this year.
Next week’s earnings calendar will be dominated by financial giants, with Bank of America (BAC), Goldman Sachs (GS), and Morgan Stanley (MS) joining JPMorgan Chase and others in reporting their quarterly results. Technology earnings will follow later in the month, with Microsoft (MSFT), Alphabet (GOOGL), and Tesla (TSLA) scheduled to report during the last week of July.
Tech Sector Continues to Drive Market Momentum
The technology sector remains a key driver of market performance, with semiconductor stocks like Nvidia continuing to outperform. The ongoing artificial intelligence boom has fueled investor enthusiasm for chip manufacturers and related technology companies.
Bitcoin’s recent surge above $112,000 has also boosted crypto-related stocks, with companies like Riot Platforms and Marathon Digital seeing increased interest. The cryptocurrency market’s recovery has added another dimension to the tech sector’s strength.
Analyst Perspective: “We’re seeing a market that’s balancing optimism about technology growth with caution about broader economic indicators,” notes market strategist Emma Chen. “The upcoming earnings season will be critical in determining whether current valuations are justified by fundamental business performance.”
Global Markets and Commodities
International markets are showing mixed performance today, with European indices trading slightly lower following Asia’s mixed session. The ongoing trade tensions between the U.S. and China continue to create uncertainty in global markets.
Oil prices have stabilized after recent volatility, with WTI crude trading around $82 per barrel. Gold continues to hover near record levels, supported by geopolitical uncertainties and expectations of eventual interest rate cuts.
The U.S. dollar index remains relatively stable as traders await tomorrow’s inflation data and further clarity on the Federal Reserve’s policy direction.
Looking Ahead: Market Outlook
As we move deeper into July, market participants are increasingly focused on second-quarter earnings results to justify current market valuations. Analysts at FactSet estimate a year-over-year earnings growth rate of 5.0% for S&P 500 companies, which would mark the lowest earnings growth reported by the index since Q4 2023.
The market’s resilience in the face of trade uncertainties and mixed economic signals suggests underlying confidence in corporate America’s ability to navigate challenges. However, with major indices near record highs, investors remain vigilant for any signs of weakness that could trigger profit-taking.
The technology sector’s continued leadership will be crucial for sustaining market momentum, while upcoming economic data and Federal Reserve communications will shape expectations for the interest rate environment in the second half of 2025.
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.