Pre-Bell | Nasdaq Futures Rise More Than 1.5%; Microsoft Jumps Over 9%, SIMO Soars 17%

Stock Market

As of Jul 30, U.S. stock index futures performed as follows: Dow futures rose 0.49%, S&P 500 futures added 0.70%, and Nasdaq 100 futures advanced 1.51%, pointing to a tentative rebound after the prior session’s slide. The technology-heavy Nasdaq contract outperformed, suggesting a rotation back into growth after overnight bargain-hunting in semiconductors and megacap software. Traders are weighing upbeat corporate earnings against lingering macro and geopolitical risks, keeping volatility elevated ahead of the opening bell.

Notable Stock Movers: MSFT up 9.68% after reporting stronger-than-expected cloud-driven results, while META down 10.09% at $526.50 as investors digest spending plans.

Chip names stayed active: SIMO up 17.42% at $246.20 on robust earnings, MU up 3.45% at $764.50, and TSM up 2.77% at $385.05. Vehicle maker TSLA up 1.72% at $303.45 after a week-long slide, while chip designer NVDA up 1.78% at $193.40, underscoring renewed appetite for AI beneficiaries.

Pre-market leadership is concentrated in semiconductors and select megacaps, reflecting optimism over AI-related demand and solid earnings momentum. Conversely, profit-taking in social-media plays and leveraged ETF rebalancing in Asia underscore the market’s fragile tone. With index futures rebounding but headline risks lingering, traders remain focused on incoming macro data and additional earnings releases to gauge whether the early strength can extend through the session.

Other Markets

• 10-year U.S. Treasury yield rose 1.15%, to 4.68%.

• U.S. Dollar Index fell 0.17% to 100.68.

• WTI crude oil futures fell 0.85% to 83.74 USD/barrel; COMEX gold futures rose 0.92% to 4 134.50 USD/ounce.

Key News

1. Microsoft reported quarterly revenue and profit well above consensus, citing rapid cloud and AI demand. Management highlighted a 43% jump in Azure sales and a surge in Copilot subscriptions, driving a 31% rise in net income. The results reinforced confidence in the company’s AI strategy and fueled pre-market buying.

2. Silicon Motion Technology delivered earnings that exceeded Wall Street expectations, lifting the stock in early trade. Non-GAAP EPS reached $2.43 per ADS, about 14% above consensus, while revenue topped forecasts by nearly 12%. Management credited robust flash-controller demand and expanding gross margin to 50.2% for the outperformance.

3. Yum China posted higher profit and sales, outpacing analyst estimates. Adjusted EPS of $0.70 and revenue of $3.14 billion marked double-digit year-over-year growth, aided by store expansion and resilient consumer traffic. The beat supports sentiment toward China-exposed consumer plays.

4. Shell announced adjusted EPS of $3.52, more than doubling the prior-year level despite softer top-line revenue. Management pointed to stronger refining margins and disciplined cost control for the profit surge, though sales of $94.7 billion came in below forecasts amid lower realized energy prices.

5. ING Groep recorded a solid quarter with EPS of $0.79, topping expectations and showcasing revenue growth of nearly 13%. The Dutch lender cited improved net interest income and resilient credit quality, reinforcing European bank recovery prospects.

6. SK Group chairman Choi Tae-won increased his personal stake by purchasing 3 620 SK Hynix ADRs. The insider buy signaled confidence in the chipmaker’s outlook, helping the U.S.-listed shares turn higher in pre-market action after recent volatility.

7. Korea Exchange initiated technical checks on a potential temporary short-selling ban and tighter daily price limits. Officials described the review as exploratory, aiming to curb market swings following sharp equity declines, particularly in semiconductor names.

8. South Korean regulators moved to cap individual exposure to single-stock leveraged ETFs and raise related trading costs. Policymakers said the measures seek to dampen extreme volatility that has erased roughly $2 trillion in market value, though analysts question their effectiveness without broader liquidity support.

9. Pakistan’s foreign ministry confirmed continuing U.S.–Iran talks focused on de-escalation in the Strait of Hormuz. The diplomatic effort aims to reduce regional tensions that have rattled energy markets and global supply routes, providing a potential path to lower geopolitical risk premiums.

10. The U.S. Commerce Department is set to release its advance GDP estimate, with economists looking for steady 2%-plus annualized growth. Strong consumer outlays and robust capital spending on artificial-intelligence infrastructure are expected to offset trade drags, though higher energy prices pose downside risks for the second half of the year.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data

Disclaimer: For informational purposes only; not investment advice.