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Pre-Market Performance
U.S. equity futures pointed higher, led by growth and AI-linked shares. Nasdaq 100 futures rose 316.5 points, or 1.12%, to 28,554.3; S&P 500 futures gained 26.8 points, or 0.36%, to 7,499.3; and Dow futures advanced 282 points, or 0.54%, to 52,662.
European markets were firmer as well. The FTSE 100 traded at 10,919.86, up 22.59 points, or 0.21%; France’s CAC 40 rose 67.42 points, or 0.79%, to 8,553.06; and Germany’s DAX added 94.52 points, or 0.37%, to 25,706.55.
In commodities and currencies, crude oil extended gains amid elevated energy-market risk. Brent crude traded near $88.50, up 1.86%, while WTI crude was near $85.11, up 1.82%. Gold futures slipped $50.20, or 1.22%, to $4,049.90, and the U.S. Dollar Index rose 0.504, or 0.51%, to 100.225.
Hot News
- AI trade rebounds on Amazon and Microsoft momentum: Global equities rallied as Amazon’s strongest AWS growth in more than four years and Microsoft’s earlier profit outlook helped calm concerns about whether AI infrastructure spending can translate into returns. Nasdaq futures led the U.S. pre-market advance, reflecting renewed demand for large-cap technology exposure.
- Oil stays volatile as Middle East shipping risk persists: Crude prices remained supported by ongoing uncertainty around the Strait of Hormuz and Red Sea shipping lanes. U.S. commercial crude inventories fell by 7.2 million barrels to 404.5 million barrels in the week ended July 24, adding to concerns over supply tightness.
- European equities extend gains: Major European benchmarks advanced, with the CAC 40 outperforming among regional indexes as investors rotated back into growth and cyclical exposure after a volatile week for AI-linked shares.
U.S. Stock Focus
- Amazon — AWS acceleration drives pre-market rally: Amazon shares rallied after second-quarter revenue reached $200.6 billion, above expectations, with AWS revenue up 37% year over year to $42.2 billion, its fastest growth in 18 quarters. The company lifted its 2026 spending outlook to $220 billion, up $20 billion, and guided third-quarter revenue to $197 billion to $202 billion.
- Apple — Guidance disappoints despite earnings beat: Apple reported fiscal third-quarter earnings of $2.02 per share on revenue of $109.42 billion, ahead of consensus. Shares weakened after management guided September-quarter sales growth of 9% to 11%, below roughly 12% expected by analysts.
- Reddit — Revenue growth remains above 60%: Reddit reported second-quarter revenue of $805 million, up 61% year over year, its eighth consecutive quarter of revenue growth above 60%. Daily active uniques rose 18% to 130.3 million, diluted EPS was $1.25, and the company guided third-quarter revenue to $860 million to $870 million.
- Coinbase — Revenue misses expectations: Coinbase reported second-quarter revenue of $1.22 billion, below an estimated $1.29 billion. Transaction revenue of $599.2 million and subscription and services revenue of $555.1 million also missed expectations, pressuring the stock in extended trading.
- Roblox — Bookings and user metrics under scrutiny: Roblox reported 123 million daily active users, up 10% year over year, and $1.6 billion in bookings, up 8%. Investors focused on monetization trends and whether engagement growth will translate into stronger bookings momentum.
- Chevron — Profit beats as oil and refining margins surge: Chevron posted adjusted earnings of $12 billion, or $6.06 per share, above the $5.56 analyst estimate. Production reached 4.0 million barrels of oil equivalent per day, and the company maintained its full-year share repurchase target of $10 billion to $20 billion.
- ExxonMobil — Four-year profit high but EPS misses: ExxonMobil reported adjusted earnings of $14.7 billion, or $3.52 per share, below the $3.60 consensus. The company produced 4.5 million barrels of oil equivalent per day, paid $4.3 billion in dividends and repurchased $5.1 billion of shares during the quarter.
- First Solar — Earnings rise as guidance is reaffirmed: First Solar reported second-quarter net sales of $1.06 billion and GAAP net income of $423 million, or $3.92 per diluted share. The company reaffirmed full-year 2026 guidance, including expected net sales of $4.9 billion to $5.2 billion and volume sold of 17.0 GW to 18.2 GW.
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