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Market Wrap: pre-opening session |
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U.S. market futures gain ground after U.S. stocks strongly rose yesterday. On Tuesday, the S&P 500 jumped 136.02 points (+1.79%) to 7,736, and the Dow Jones advanced 907 points (+1.71%) to 54,085, both achieving record closing levels.
The Nasdaq 100 surged 956 points (+3.32%) to 29,733.
On the stat front, in the U.S., the ADP employment is estimated to increase by 70,000 in July. Separately, the ISM services purchasing managers index is expected at 54.5 in July vs 54.0 in June.
European indices are little changed. On the stat plan, eurozone's producer prices rose 4.6% year-on-year in June, in line with anticipations, after increasing 5.9% in May. Separately, France's industrial production increased 1.1% in June on a monthly basis vs +0.3% expected and -0.1% in May.
Asian indices were higher. U.S. Treasury Secretary Scott Bessent said the U.S. will do "whatever it takes" to support Japan's effort to stabilize the yen, following last week's U.S.-Japan joint intervention to buy the yen.
WTI crude oil prices attempt to stabilize above 75 dollars. They dropped more than 5% yesterday as both U.S. Secretary of State Marco Rubio and Treasury Secretary Scott Bessent revealed progress in talks with Iran.
Gold bounces, trading at its highest levels since July 6 amid weaker oil prices and a softer U.S. dollar.
Bitcoin trades flat around 64,000 dollars.
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SpaceX (SPCX), a space company, drops as quarterly capital expenditures more than quintupled to 18.37 billion dollars. However, quarterly sales beat estimates.
Verizon (VZ), AT&T (T) and T-Mobile (TMUS), telecom companies, lose ground after SpaceX signaled its intention to build out a full-fledged mobile service.
Advanced Micro Devices (AMD), a designer and producer of microprocessors, strongly falls on profit taking as quarterly financial figures failed to impress investors. Moreover, current quarter sales guidance was in line with expectations.
Walt Disney (DIS), an entertainment and media giant, rises as quarterly earnings beat estimates.
Eli Lilly (LLY), a developer and producer of pharmaceuticals, is well oriented on better-than-expected quarterly financial figures.
CVS Health (CVS), a pharmacy and healthcare company, rises as full-year sales forecast topped estimates.
Arista Networks (ANET), a designer and seller of high-speed networking solutions, jumps on better-than-expected quarterly financial figures. Current quarter guidance also topped estimates.
Uber Technologies (UBER), a technology platform, loses ground on weak current quarter guidance. Separately, the company and "Wayve’s partnership to bring autonomous rides to London has taken an important step forward after Transport for London (TfL) granted Private Hire Vehicle licences to a number of Wayve’s autonomous all-electric vehicles".
Wynn Resorts (WYNN), a luxury resort and casino company, is well oriented as quarterly financial figures beat expectations.
Astera Labs (ALAB), a semiconductor company, gains some ground on better-than-expected current quarter guidance.
Kratos Defense & Security Solutions (KTOS), a defense company, jumps as quarterly earnings topped expectations. The stock was raised to "overweight" from "neutral" at Piper Sandler.
Pinterest (PINS), a social media, slides as current quarter sales guidance was broadly in line with estimates, thus somewhat disappointing investors. However, quarterly financial figures beat expectations.
Bed Bath & Beyond (BBBY), a home furnishing retail chain, drops as quarterly net loss was wider than anticipated.
Teradata (TDC), a cloud data analytics platform, tumbles as current quarter earnings guidance missed estimates.
Booking Holdings (BKNG), an online travel company, jumps as quarterly gross bookings beat expectations.
Circle Internet Group (CRCL), a fintech, pops on better-than-expected quarterly earnings.
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Eli Lilly and Co (LLY)
SanDisk Corp (SNDK)
Western Digital Corp (WDC)
The Walt Disney Co (DIS)
Uber Technologies Inc (UBER)
AppLovin Corp (APP)
CVS Health Corp (CVS)
McKesson Corp (MCK)
DoorDash Inc (DASH)
Phillips 66 (PSX)
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Earnings release:
Manulife Financial Corp (MFC)
Thomson Reuters Corp (TRI)
Nutrien Ltd (NTR)
Lundin Mining Corp (LUN)
WSP Global Inc (WSP)
Finning International Inc (FTT)
On Tuesday, the S&P/TSX Composite Index jumped 1.63% to 35,802 and the S&P/TSX 60 Index gained 1.26% to 2,110.
Suncor Energy (SU), an energy company, reported quarterly adjusted operating income per share up to 3.23 dollars, above estimates, from 1.93 dollar a year earlier. The company confirmed 2026 production forecast as well as capital spending guidance. Moreover, "beginning in August 2026, Suncor plans to increase monthly share repurchases to 500 million dollars per month, from 350 million dollars per month, projecting total 2026 share repurchases of 4.7 billion dollars and marking the third monthly increase since December 2025".
Thomson Reuters (TRI), a leading provider of business information services, raised full-year organic growth outlook after posting better-than-expected quarterly financial figures.
Canada Goose (GOOS), a clothing retailer, was reinstated "buy" at Bofa Global Research.
Chorus Aviation (CHR), an aviation solutions provider, unveiled quarterly adjusted Ebitda slightly down 1.1% to 50.7 million dollars, yet above expectations. Sales rose 7.6% to 349.4 million dollars. The company reaffirmed full-year guidance.
SSR Mining (SSRM), a mining company, posted quarterly adjusted EPS up to 0.66 dollar, yet missing estimates, from 0.64 dollar a year earlier. Sales rose to 443.8 million dollars from 405.5 million dollars a year ago, however slightly missing expectations.
Gran Tierra Energy (GTE), an energy company, "announced the sale of the company’s Colombia and Ecuador oil business, representing all of its South American assets, to Maurel & Prom representing a total consideration of 1.33 billion dollars".
K-Bro Linen (KBL), a linen and laundry services specialist, reported quarterly adjusted net income up 30.3% to 10.1 million dollars. Sales rose 33% to 150.4 million dollars, just below estimates.
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