01 Stock Market
As of Jul 24, U.S. stock index futures performed as follows: Dow Jones Industrial Average contracts rose 0.41%, S&P 500 minis added 0.24%, and Nasdaq 100 futures edged up 0.14%, hinting at a cautious rebound after the prior session’s slide. Traders assessed a busy roster of corporate results and capital-spending updates from major technology and industrial names while gauging evolving macro risks linked to Middle East supply disruptions and fresh tariff threats.
Notable Stock Movers: Semiconductor earnings and partnership headlines put chip names in the spotlight: INTC up 3.26% at $103.50 after upbeat guidance and a larger investment plan, while memory-focused SKHY fell 2.24% at $165.71. Vehicle giant TSLA up 0.96% at $322.75 recouped a fraction of its recent slide. Software heavyweight ORCL up 2.18% at $122.66 and platform leader MSFT up 1.16% at $386.00 benefited from resilient cloud and AI demand signals. Graphics-chip bellwether NVDA down 0.14% at $208.47 struggled for direction after sector-wide debate on capital-expenditure intensity. Broader tech leverage products mirrored the mixed tone, with bullish QQQ positions up modestly while bearish semiconductors-focused instruments also saw pockets of interest.
The pre-bell landscape shows investors rotating within the technology complex rather than abandoning it, with selective buying in established hardware and software leaders offset by profit-taking in certain memory and storage names. Energy services and financial issuers delivering stronger-than-expected earnings added support to value segments, helping futures stabilize even as geopolitical flashpoints and policy uncertainties linger.
02 Other Markets
• 10-year U.S. Treasury yield fell 0.47%, to 4.68%.
• U.S. Dollar Index was unchanged at 101.43.
• WTI crude oil futures fell 3.15% to 89.29 USD/barrel; COMEX gold futures rose 0.23% to 4059.60 USD/ounce.
03 Key News
1. Samsung Electronics and SK Hynix are finalizing large semiconductor supply agreements with major U.S. clients, expanding their footprint in advanced memory. Bloomberg reported that the South Korean chipmakers will anchor multiyear deals to provide cutting-edge components for American technology firms, underscoring escalating demand for high-bandwidth memory used in artificial-intelligence data centers. The contracts are expected to bolster long-term revenue visibility and reinforce global supply-chain links amid intensifying chip competition.
2. Intel projected third-quarter revenue and profit above market expectations and pledged higher capital spending to meet surging demand for its next-generation CPUs. Management cited a sharp pickup in orders from data-center customers deploying agentic AI workloads, prompting an increase in 2024 capital-expenditure guidance to about $20 billion and a commitment to high-volume production on its forthcoming 14A process in 2028.
3. Verizon lifted its full-year earnings and free-cash-flow outlook after stronger-than-expected wireless subscriber additions. A streamlined unlimited 5G plan and new bundled offerings drove 184,000 postpaid net adds, beating analyst projections. The telecom group now targets adjusted EPS of $4.99-$5.04 and free-cash-flow growth of up to 10%, supported by cost controls and reduced handset subsidies.
4. SLB exceeded quarterly profit forecasts as resilient North American and Latin American drilling offset Middle-East headwinds. The oilfield-services leader posted adjusted EPS of 55 cents versus the 51-cent consensus, with North American revenue climbing 36%. Management highlighted steady international demand despite shipping disruptions near the Strait of Hormuz and Bab el-Mandeb choke points.
5. American Express reported double-digit revenue growth but saw shares weaken after margin concerns overshadowed a solid quarter. Net income reached $3.11 billion on robust card-member spending and higher fee income, prompting the company to raise full-year sales guidance to 10% growth while maintaining its EPS target of $17.30-$17.90.
6. Amkor Technology announced a $1.5 billion co-investment with Nvidia to expand advanced chip-packaging capacity in Arizona. The multiyear partnership aims to accelerate next-generation AI semiconductor development, sending Amkor shares up nearly 9% in pre-market trading and reinforcing the strategic importance of domestic packaging infrastructure.
7. Alphabet signaled a step-change in artificial-intelligence investment, lifting its 2026 capital-expenditure outlook to $195 billion–$205 billion. Management disclosed the increase alongside better-than-forecast cloud revenue, but the jump in spending stoked broader market debate about the pace of AI monetization and weighed on the stock.
8. The U.S. administration outlined plans for new tariffs of 10%–12.5% on goods from multiple trading partners, adding a fresh layer of trade uncertainty. Analysts noted that while direct impact on large domestically focused companies may be limited, the move heightens global supply-chain risks and could influence Federal Reserve policy expectations.
9. Ship-tracking data showed tanker transits through the Strait of Hormuz dropping to a multi-month low, underscoring escalating Middle-East maritime risks. Only one crude carrier reportedly passed the vital waterway on July 23, reflecting heightened security concerns and contributing to renewed upward pressure on energy prices.
10. Iran-aligned Houthi forces threatened Red Sea shipping, declaring a blockade on Saudi oil cargoes and firing on commercial vessels. The escalation introduces a second chokepoint alongside the tightening Strait of Hormuz, raising the prospect of longer shipping routes and increased logistical costs as regional and Western navies consider response options.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
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