US Stock Market Preview: Mixed Pre-Market Performance for Major Indices and Tech Stocks.

US Pre-Market Update

On Thursday morning, US stock futures showed slight fluctuations, with Dow futures up by 0.15%. Key economic data, including initial jobless claims and revised Q2 GDP figures, will be released at 20:30. The GDP is expected to grow at an annualized rate of 3.1%, up from the previous 3.0%. Analysts suggest that a downward revision could weaken the dollar and boost gold prices, while an upward revision might have the opposite effect.

Market Sentiment

Karen Georges, a manager at Ecofi, noted that the market appears complacent regarding the Federal Reserve's interest rate cuts. If the job market proves more resilient than expected, investors may need to adjust their rate cut expectations.

Tech Stocks Performance

Star tech stocks showed mixed results in pre-market trading. Broadcom, Apple, and Microsoft saw slight increases, while Alibaba dropped by 2%, and Nvidia and TSMC fell over 1%.

Notable Earnings Reports

• Nvidia (NVDA): Reported Q2 revenue of $46.7 billion, a 56% year-over-year increase, surpassing expectations. However, the Q3 revenue forecast of $54 billion raised concerns, as analysts had anticipated over $60 billion. The data center revenue was $41.1 billion, slightly below expectations.

• Snowflake (SNOW): Shares surged nearly 14% after raising its full-year revenue guidance to $4.395 billion. Q2 revenue was $1.0905 billion, a 32% increase year-over-year.

• CrowdStrike (CRWD): Reported a revenue of $1.17 billion but transitioned from profit to loss, with a Q3 revenue forecast below expectations.

Other Stock Movements

• Ctrip (TCOM): Shares rose nearly 8% after reporting a 26.43% increase in net profit for Q2.

• Pure Storage (PSTG): Stock jumped over 15% after exceeding earnings expectations and raising its revenue forecast for FY2026.

• Five Below (FIVE): Shares increased over 4% as the company raised its full-year outlook despite tariff concerns.

Economic Concerns

Goldman Sachs expressed optimism about the upcoming iPhone 17 launch, predicting it will drive revenue growth for Apple.

In contrast, concerns about inflation and economic stagnation are rising, with analysts warning that the US economy may be edging closer to stagflation.

International Trade Tensions

Brazil's Finance Minister indicated that Brazil might sue the US over high tariffs imposed by the Trump administration. Meanwhile, the Chinese Ministry of Commerce is engaging in discussions with US officials to maintain stable trade relations.

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