From NASDAQ.: 2024-07-25 07:37:28

Market participants are cautious as September S&P 500 E-Mini futures and September Nasdaq 100 E-Mini futures are down this morning. Major indices ended lower yesterday with Tesla and Alphabet leading the losses. Enphase Energy and AT&T were top gainers. U.S. economic data shows mixed results, with S&P Global manufacturing PMI falling to 49.5 in July but services PMI rising to 56.0. Analysts predict 2.0% q/q U.S. GDP in the second quarter. German business sentiment worsened, and Stellantis NV and Kering reported disappointing earnings. In Asia, China’s Shanghai Composite Index closed lower, and Japan’s Nikkei 225 Stock Index posted a sharp drop. China’s central bank cut its medium-term lending facility rate. Japanese companies face increasing inflationary pressures. Edwards Lifesciences tumbled in pre-market trading after weak Q2 results, while IBM climbed after strong Q2 results. Chipotle Mexican Grill and ServiceNow also reported upbeat earnings. Today’s earnings spotlight includes AbbVie, Union Pacific, and Honeywell.



Read more at NASDAQ.: Stocks Muted Before the Open as Investors Await Key U.S. GDP Data and Earnings Reports