U.S. stock futures rise as Dow, S&P 500, Nasdaq edge higher; Tesla and Alphabet earnings loom, Trump’s tariff deadline fuels global trade fears

U.S. stock futures moved higher Monday morning as Wall Street entered a pivotal week defined by high-stakes earnings from megacap tech giants and growing uncertainty surrounding President Trump’s August 1 tariff deadline.

All three major indices are eyeing a positive open after notching record highs last Friday.

How are U.S. stock futures performing?

• S&P 500 futures (ES=F): +0.22% at 6,348.75
  
  
• Nasdaq 100 futures (NQ=F): +0.3%
  
  
• Dow Jones Industrial Average futures (YM=F): +0.2%
  
  

This comes after a record-setting week for growth stocks, with the Nasdaq Composite rising 1.5% and the S&P 500 adding 0.6%. The Dow, however, ended slightly lower.

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Which stocks are making the biggest moves today?

Top gainers in pre-market trading:

• Block (SQ) is surging +9.3% after being announced as the newest addition to the S&P 500 index.
  
  
• Verizon (VZ) is up +4.5% after delivering solid second-quarter earnings and raising full-year guidance.
  
  
• Tesla (TSLA) is gaining +1.4% as investors anticipate its earnings report and updates on its robotaxi ambitions.
  
  
• Domino’s Pizza (DPZ) is climbing +3.0% after reporting better-than-expected same-store sales growth.
  
  
• Cleveland-Cliffs (CLF) is advancing +3.5% after posting a narrower-than-expected quarterly loss.
  
  

Top losers in pre-market trading:

• Sarepta Therapeutics (SRPT) is down -10%, extending Friday’s 36% plunge after the FDA requested more data on its gene therapy treatment.
  
  
• Stellantis (STLA) is slipping -0.9% after disappointing first-half results and ongoing pressure from global auto tariffs.

What’s driving the markets this week?

1. Earnings from the Magnificent Seven

Wall Street’s attention turns to earnings reports from major tech companies. Alphabet (GOOG) and Tesla (TSLA) are set to report on Wednesday, kicking off results from the “Magnificent Seven.” These updates are crucial as valuations hover near historic highs, driven by AI-fueled investor optimism.

So far, 59 S&P 500 companies have reported Q2 results — 86% have topped expectations, suggesting a strong beat rate, albeit from relatively modest estimates.

“Earnings misses are going to get punished more than usual,” said Brian Jacobsen of Annex Wealth Management, warning of heightened volatility.

2. Tariff deadline approaching

The August 1 deadline for new tariffs looms large. Commerce Secretary Howard Lutnick reiterated the date as a "hard stop" but hinted that discussions could continue afterward. Reports indicate that the EU is open to an imbalanced trade deal to avoid tariffs but is also preparing retaliatory measures if no agreement is reached.

Corporate highlights: What stocks are moving today?

Gainers:

• Domino’s Pizza (DPZ): Rose after second-quarter sales beat expectations thanks to new menu items that helped offset tariff-related concerns.
  
  
• Verizon (VZ): Trading higher following a solid Q2 earnings report.
  
  
• Cleveland-Cliffs (CLF): Gained after reporting narrower-than-expected losses.
  
  

Losers:

• Stellantis (STLA): Shares slipped 2.2% premarket as the automaker warned of a $2.7 billion H1 net loss, citing restructuring costs and U.S. tariffs. North American shipments fell 25% YoY.
  
  
• Netflix (NFLX): Dropped 5% on Friday despite beating expectations and raising guidance, as investors remain skeptical of elevated valuations.
  
  

Economic data and global trends

• The Leading Economic Index for June will be released later Monday and will be watched for signs of stabilization after recent softness.
  
  
• Oil prices remain steady amid fresh sanctions on Russian exports. Brent crude is at $69.33, while WTI trades around $67.36 per barrel.
  
  
• TSMC (TSM) crossed the $1 trillion market cap milestone, reflecting soaring demand for AI chips and strong earnings momentum.
  
  

Key takeaways for investors

Topic	Key Insight
Futures	All major indices pointing to a green open
Earnings Watch	Alphabet and Tesla earnings midweek are top focus
Trade Risks	Trump’s Aug. 1 tariff deadline remains a major wildcard
Volatility Alert	Markets are unforgiving—good isn’t good enough amid high valuations
Macro Factors	Oil sanctions, economic indicators, and global supply chain tensions loom

FAQs on today’s market

Q1: Why are U.S. stock market futures rising this week?
Because investors are optimistic ahead of key earnings from Tesla and Alphabet, and they're closely watching trade policy signals from President Trump’s tariff deadline.

Q2: What’s attracting investor attention in the stock market right now?
Strong tech earnings, especially from Tesla and Alphabet, and concerns over Trump’s upcoming tariffs are the main factors driving market interest and movements.

Q3: How could Tesla and Alphabet earnings affect the stock market?
If their results beat expectations, it could boost market confidence and support current high valuations, especially in tech-heavy indexes like the Nasdaq.

Q4: What is the risk from Trump’s tariff plan?
Investors fear that new tariffs could disrupt global trade, hurt corporate profits, and trigger short-term market volatility across sectors.

Q5: Why are Dow, S&P 500, and Nasdaq futures gaining?
Because strong early earnings, especially from tech and retail, are lifting investor sentiment even as trade concerns remain in focus.