US Stock Market Today: Futures Edge Up Ahead of Fed Decision and Tech Earnings Wave

By / / Featured, Market Update

U.S. stock futures are showing modest gains this Tuesday morning, July 29, 2025, as Wall Street prepares for a pivotal week dominated by a wave of corporate earnings and a critical Federal Reserve policy decision. Investors are closely monitoring premarket trading activity and futures movements for clues on market sentiment, following Monday's mixed close where major indexes saw varied performance but tech continued its upward trajectory.

Premarket Trading and Futures Movements

As of early Tuesday, U.S. stock futures edged higher, signaling a cautious but optimistic start to the trading day. Dow Jones futures (YM=F) were up 0.1%, S&P 500 futures (ES=F) gained 0.26%, and Nasdaq 100 futures (NQ=F) saw a 0.44% increase as of 7:00 a.m. EDT. These movements suggest that despite lingering uncertainties, particularly around global trade and inflation, market participants are leaning towards a positive open, driven by anticipation of corporate results and central bank guidance. The Russell 2000, representing small-cap stocks, also showed strength in premarket, advancing 0.55%.

Current Market Indexes Performance

Monday's session saw the S&P 500 (SPX) and Nasdaq Composite (IXIC) close at new record highs, marking the S&P 500's 15th record close of 2025. The S&P 500 ended just above flat, gaining a slender 0.02% to 6,389.77 points. The Nasdaq Composite continued its impressive run, rising 0.3% to 21,178.58, extending its record-setting streak. In contrast, the Dow Jones Industrial Average (DJIA) lagged slightly, slipping 0.1% to close at 44,837.56. These gains were largely fueled by robust earnings results and positive developments in international trade. Year-to-date, the Nasdaq Composite has been the standout performer, boasting a return of +27.5%, followed by the S&P 500 at +18.7%, while the Dow Jones Industrial Average has seen an +8.9% return.

Upcoming Market Events

This week is packed with high-impact events that could significantly sway market direction. The most anticipated event is the Federal Reserve's (Fed) two-day policy meeting, which commences today, July 29, and concludes tomorrow, July 30, with the central bank's interest rate decision and subsequent press conference. The Federal Open Market Committee (FOMC) is widely expected to hold interest rates steady in their current target range of 4.25% to 4.50% for the fifth consecutive meeting. However, investors will be scrutinizing Chair Jerome Powell's commentary for any signals regarding future monetary policy, particularly the timing of potential rate cuts, with markets currently pricing in a 62% chance of a September rate cut.

Beyond the Fed, a series of key economic data releases will provide further insights into the health of the U.S. economy:

  • Tuesday, July 29: JOLTS job openings for June, Conference Board consumer confidence for July, and S&P CoreLogic Case-Shiller home prices for May are due.
  • Wednesday, July 30: ADP private payrolls and the Q2 GDP estimate will be released.
  • Thursday, July 31: Weekly jobless claims, Core PCE Prices for Q2, and the second-quarter GDP figures are expected.
  • Friday, August 1: The crucial nonfarm payrolls report for July will be published, with expectations of around 100,000 jobs added and the unemployment rate forecasted at 4.2%.

Adding to the economic calendar, a key tariffs deadline for Canada, Mexico, the European Union, and other trading partners approaches on August 1. Recent progress on a U.S.-EU trade deal, which imposes 15% tariffs on most European imports but excludes semiconductors, has been a source of optimism, though some analysts remain skeptical about the feasibility of the EU's investment and energy purchase pledges.

Major Stock News and Corporate Announcements

The earnings season continues to be a significant market driver, with over 150 S&P 500 companies slated to report this week. So far, 83% of companies have surpassed earnings expectations, a trend analysts hope will continue.

Several major companies are reporting earnings today, July 29:

  • Boeing (BA) is expected to report a narrower-than-expected loss on strong revenue, with its stock up 2.3% in premarket.
  • Procter & Gamble (PG) edged higher by 1.5% in premarket after its Q4 earnings and revenue beat expectations.
  • Spotify Technology (SPOT) saw its shares decline over 4% in premarket after missing Q2 earnings and revenue estimates despite strong subscriber growth.
  • UnitedHealth (UNH) was down 4% premarket following a higher-than-expected medical expense ratio and missing Q2 EPS estimates.
  • Other companies reporting today include SoFi Technologies (SOFI), which rose 7.1% after reporting record revenue growth and raising guidance, Visa (V), PayPal Holdings (PYPL), and Merck (MRK). Merck announced second-quarter 2025 financial results, with worldwide sales of $15.8 billion, a 2% decrease from Q2 2024. United Parcel Service (UPS) declined 4.8% after missing earnings estimates.

Beyond today's reports, major tech giants are on deck later this week:

  • Microsoft (MSFT) and Meta Platforms (META) are scheduled to report earnings on Wednesday. Both saw slight gains in premarket trading today.
  • Apple (AAPL) and Amazon.com (AMZN) will release their results on Thursday. Apple shares fell slightly in premarket today.

Other notable stock movements in premarket include:

  • Sarepta Therapeutics (SRPT) surged nearly 40% after receiving FDA clearance to resume shipments of its gene therapy, Elevidys.
  • GeneDx Holdings (WGS) rose 27% after swinging to adjusted earnings and raising its FY2025 revenue guidance.
  • Cadence Design Systems (CDNS) gained 8.5% after beating Q2 earnings estimates and raising its full-year guidance.
  • Whirlpool (WHR) slumped 17% after cutting its full-year guidance due to weaker Q2 results and tariff-related headwinds.
  • VeriSign (VRSN) shed 7% after Berkshire Hathaway offloaded 4.3 million shares.
  • Nucor (NUE) lost 4.9% after missing Q2 expectations and warning of lower Q3 earnings.
  • Novo Nordisk (NVO) tumbled 20% after the weight loss treatment maker issued a disappointing outlook.
  • Chipmakers Nvidia (NVDA) and Broadcom (AVGO) each tacked on about 1% in premarket, continuing the strong performance seen in the semiconductor sector.

In corporate news, Stellantis (STLA) released its First Half 2025 Results, updating its estimate of the 2025 net tariff impact to approximately €1.5 billion. The automaker plans to launch 10 new models in 2025. Additionally, Canon Inc. (CAJ) announced it successfully removed multiple listings of third-party toner cartridges from e-commerce platforms in the first half of 2025 due to patent infringement.

The confluence of ongoing earnings reports, crucial economic data, and the highly anticipated Federal Reserve meeting sets the stage for a dynamic trading week, with investors keenly watching for signals that could dictate market direction through the third quarter.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. We are not financial professionals. The authors and/or site operators may hold positions in the companies or assets mentioned. Always do your own research before making financial decisions.
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