U.S. stock futures are showing modest gains this Friday morning, August 8, 2025, signaling a cautiously optimistic start to the trading day despite lingering concerns over economic data and the ongoing impact of new tariffs. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.23%, 0.13%, and 0.22% respectively as of early trading hours, indicating a positive sentiment ahead of the market open. This premarket uptick follows a mixed performance in Thursday's session, where the Nasdaq Composite (IXIC) managed to climb to a new all-time high, while the Dow and S&P 500 experienced slight declines.
Major Market Indexes Performance
The major U.S. market indexes closed Thursday with varied results. The Nasdaq Composite (IXIC) was the standout performer, rising approximately 0.35% to close at a record high, largely buoyed by optimism in the technology sector. In contrast, the Dow Jones Industrial Average (DJIA) slipped 0.51%, marking its second loss in three days, and the S&P 500 (SPX) edged down 0.08%. Despite Thursday's mixed finish, all major indexes are currently on track for weekly gains, with the S&P 500 up 1.63%, Nasdaq up 2.87%, and the Dow Jones up 0.87% for the week. The S&P 500 is now just 0.8% away from its own record closing high.
The market's resilience comes despite the implementation of new tariffs by President Donald Trump, which took effect Thursday. These tariffs, affecting imports from nearly 200 countries, have an average effective rate projected to jump to 18.6%, the highest since 1933. However, sentiment in the tech sector was notably lifted by remarks from President Trump suggesting exemptions in his proposed 100% semiconductor tariffs for firms manufacturing within the U.S..
Upcoming Market Events
Investors are closely watching a series of upcoming market events that could influence sentiment. While no major economic data releases are scheduled for Friday, the focus remains on next week's highly anticipated Consumer Price Index (CPI) data, which will provide crucial insights into inflation trends. Initial jobless claims for the week ending August 2 came in higher than expected, increasing by 38,000 to 1.974 million, reaching their highest level since November 2021. This weaker jobs data has fueled expectations that the Federal Reserve might consider interest rate cuts, a factor that could provide a boost to the economy and investment prices.
On the corporate earnings front, several companies reported results yesterday and this morning. ANI Pharmaceuticals (ANIP) announced record second-quarter 2025 financial results, with net revenues surging 53.1% year-over-year. The Wendy's Company (WEN) also reported its second-quarter results, with diluted earnings per share increasing by 7.4%. After the market closed on Thursday, SoundHound AI (SOUN) stock jumped 14% in extended trading following its strongest quarter ever, and Block (SQ) (formerly Square) saw its stock rise 8% after reporting strong gross profit growth in Q2. Conversely, Pinterest (PINS) stock fell 10% after reporting mixed second-quarter financial results, missing earnings expectations. Expedia Group (EXPE) traded 18% higher after raising its full-year outlook, while The Trade Desk (TTD) shares declined 29% after posting second-quarter earnings. Twilio (TWLO) shares were up 13% after beating adjusted earnings per share estimates.
In political developments impacting the Federal Reserve, President Trump nominated Stephen Miran, current chairman of the Council of Economic Advisors, to the Federal Reserve Board of Governors, a move seen by some analysts as a "welcome surprise".
Major Stock News
Individual company news is driving significant stock movements today:
- Apple (AAPL): Shares have experienced a significant two-day surge, climbing over 9% this week, driven by President Trump's announcement that Apple intends to invest an additional $100 billion in domestic manufacturing to mitigate tariff risks. This commitment, part of a broader $600 billion U.S. infrastructure pledge, aligns with Trump's 100% tariff on imported semiconductors, granting exemptions to companies with significant U.S. manufacturing. Analysts are watching closely to see if Apple can sustain this momentum and break above key technical resistance levels.
- Microsoft (MSFT): The tech giant continues to demonstrate robust financial performance, with its stock trading near its 52-week high. Analysts project strong earnings growth, supported by a healthy gross profit margin and strong return on invested capital. Microsoft's AI initiatives, including the Microsoft 365 Copilot, are expected to drive significant long-term revenue growth. Despite some mixed technical signals, institutional and retail inflows indicate broad market confidence in Microsoft's value proposition.
- Nvidia (NVDA): The chipmaker continues to ride the artificial intelligence (AI) wave, with its stock surging 34% year-to-date. Goldman Sachs has raised its price target for Nvidia to $200, up from $185, reaffirming a "buy" rating ahead of its critical Q2 earnings announcement. The firm anticipates Nvidia will beat expectations and raise guidance due to robust AI chip demand and progress in China. Furthermore, Tesla's (TSLA) decision to scrap its internal Dojo supercomputing team and rely more heavily on hardware from Nvidia and Advanced Micro Devices (AMD) is seen as positive news for Nvidia.
- Tesla (TSLA): Tesla shares were higher after founder Elon Musk stated the company was testing new full self-driving (FSD) technology and plans to release a new model by the end of September. Despite this, TSLA shares have underperformed the large-cap tech market recently due to weaker sales. The company has also announced a significant shift in its AI hardware strategy, dissolving its in-house Dojo supercomputer team and securing a $16.5 billion agreement with Samsung to supply AI semiconductors through 2033. This strategic pivot led to a slight dip in Tesla's stock price, falling less than 1%.
- Intel (INTC): The chipmaker's stock experienced a drop on Thursday after President Donald Trump called for the resignation of Intel's CEO, Lip-Bu Tan, citing Chinese ties. However, Intel's stock was up more than 1% in premarket trading, rebounding from Thursday's decline, as the CEO reportedly has the board's support.
- Eli Lilly (LLY): Shares of the pharmaceutical company plunged 14% on Thursday despite reporting better-than-expected earnings. The significant drop came after lackluster trial results for its much-anticipated oral GLP-1 pill.
The market continues to navigate a complex landscape of trade policy, corporate earnings, and evolving economic indicators. While tech stocks, particularly those in the AI sector, are showing strong momentum, broader concerns about inflation and the Federal Reserve's monetary policy remain key factors influencing investor sentiment.
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.