Wall Street investors looked cautious on Thursday as Dow Futures tumbled 200 points while futures tied to other benchmark indexes displayed a state of confusion.
S&P 500 Futures edged up 0.1%, while Nasdaq 100 Futures gained 0.3%. Meanwhile, Dow Futures slipped 198 points, or 0.4%.
All eyes will be on fresh data this week, with earnings from major tech firms and updates on monetary policy expected to steer market sentiment.
Investors are watching closely as they try to make sense of a fast-moving mix of economic signals, political shifts, and corporate developments.
5 things to know before Wall Street opens today
1. Big earnings this week are drawing plenty of attention, with Alphabet and Tesla in the spotlight.
Alphabet’s stock has held up well, thanks to solid gains in its cloud business and growing momentum in AI.
Tesla, on the other hand, took a hit as shares were down 7% in pre-market trading after the company reported falling revenue and ongoing demand issues.
CEO Elon Musk didn’t help sentiment either, warning that the next few quarters could be rough.
2. The Trump administration is sticking to its plan to roll out new tariffs on August 1, and this time, officials are signaling there’s less chance of a last-minute reversal.
Businesses and markets seem to be taking it in stride as trade tensions are clearly rising, but markets have held relatively steady, suggesting that many investors are already pricing in the impact.
3. Markets are keeping a close eye on the European Central Bank’s upcoming policy announcement, with investors looking for any signals on the future path of interest rates and liquidity conditions.
The ECB’s guidance could have ripple effects well beyond Europe, especially at a time when global markets are finely balanced between cautious optimism and lingering uncertainty.
There’s growing hope that the central bank may hold steady on rates, thanks in part to improving trade conditions and a steady flow of economic data that points toward softening inflation without a sharp slowdown in growth.
Still, much will depend on the ECB’s tone, whether policymakers lean more hawkish or signal room for flexibility in the months ahead.
4. Yields on the US 10-year Treasury edged higher after upbeat trade news and a strong showing across Asian markets, signaling a modest return of optimism around global growth.
At the same time, Wall Street’s volatility gauge, the so-called “Fear Index,” continued to drift lower, suggesting investors are staying relatively calm despite a backdrop of lingering macro risks.
That calm comes even as political clouds hang over the outlook, with a potential US government shutdown still on the horizon later this year.
5. Regulators on both sides of the Atlantic are turning up the heat on big tech, and markets are taking notice.
With US and European authorities ramping up antitrust probes and floating new rules for the digital economy, investors are paying close attention to any signals that could affect the future growth or dominance of the sector’s biggest players.
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