01 Stock Market
As of Jul 14, U.S. stock index futures performed as follows: contracts linked to the Dow Jones Industrial Average fell 0.59%, S&P 500 futures edged 0.12% lower, while Nasdaq 100 futures rose 0.51%. The divergence highlights investor caution toward economically sensitive shares even as demand for large-cap technology names steadies sentiment ahead of a packed earnings calendar.
Notable Stock Movers: IBM down 23.07% at $223.28 after a cautious revenue update, while chip-levered ETF SOXL up 9.33% at $180.80. Memory leader MU up 3.26% at $967.53 and graphics powerhouse NVDA up 1.28% at $206.13 as semiconductor optimism revives. Foundry giant TSM added 1.55% at $428.13, whereas iPhone maker AAPL dipped 0.86% at $314.57, reflecting rotation within mega-caps.
Sector Check: Banks presented a mixed picture pre-bell; investment-bank heavyweights such as JPM fell 2.70% at $325.50 despite upbeat earnings headlines, suggesting profit-taking ahead of a cluster of financial-sector reports. Conversely, chip-centric vehicles and select semiconductor leaders continued to attract buying, reinforcing the market’s current preference for AI-related growth themes.
02 Other Markets
• 10-year U.S. Treasury yield rose 0.08%, to 4.61%.
• U.S. Dollar Index fell 0.22% to 101.05.
• WTI crude oil futures rose 1.84% to 79.58 USD/barrel; COMEX gold futures rose 0.80% to 4037.70 USD/ounce.
03 Key News
1. Goldman Sachs posted a 72% surge in second-quarter equities-trading revenue, lifting total profit to $6.63 billion. Management cited heightened market volatility and a boom in “mega-deal” M&A as catalysts for the beat, while advisory fees jumped 55%. Shares edged higher in early trade as investors welcomed the stronger earnings momentum.
2. IBM warned that preliminary second-quarter revenue will miss Wall Street forecasts, sending its stock sharply lower. The company said clients diverted budgets toward AI infrastructure rather than traditional software, and several large deals failed to close on schedule. Adjusted earnings per share are now expected at $2.93 versus a $3.02 consensus.
3. Wells Fargo reported a 17% rise in quarterly profit to $6.41 billion, boosted by loan growth and a 24% jump in markets revenue. Net interest income climbed 5% as average loans expanded 12%, while the lifting of regulatory asset caps last year enabled the bank to deploy more balance sheet into trading and investment-banking activities.
4. Samsung Electronics denied reports that it is pursuing a U.S. American Depositary Receipt listing. The company stated it is “not reviewing” an ADR issuance, countering speculation that its rival’s recent U.S. debut had spurred similar plans. The clarification aims to quell market chatter about potential capital-raising moves.
5. Bank of America’s net income rose to $9.1 billion on record $7.1 billion trading revenue amid heightened market volatility. Equities trading revenue leapt 70%, and investment-banking fees climbed 50%, reflecting a rebound in dealmaking and continued client activity during uncertain markets.
6. JPMorgan Chase delivered a 41% profit increase to $21.16 billion, with revenue across all divisions attaining record levels. Loans reached $1.54 trillion, and investment-banking fees advanced 30%, underscoring resilient credit demand and constructive market sentiment.
7. U.S. small-business optimism improved as the NFIB index rose to 97.4, though inflation concerns intensified. Twenty-one percent of owners now cite price pressures as their top issue, the highest share in nearly two years, suggesting persistent cost challenges even as sentiment edges toward its long-term average.
8. Washington launched additional strikes against Iranian targets and signaled a 20% fee on Hormuz shipping, propelling crude prices higher. West Texas Intermediate spiked above $80 per barrel, with analysts warning of sustained price strength should geopolitical tensions disrupt energy flows through the vital waterway.
9. Meta Platforms and Amazon are set to lead an estimated $1.4 trillion hyperscale capital-expenditure wave by 2028, according to Morgan Stanley. The bank lifted spending forecasts as AI hardware shortages lengthen data-center build times, anticipating that compute capacity will quadruple over the period.
10. ASML faces scrutiny ahead of its earnings release as U.S. export-control plans spotlight its China exposure and capacity expansion. Analysts expect the lithography leader to beat and raise guidance, while management seeks “creative ways” to deliver up to 90 EUV tools annually without becoming an industry bottleneck.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
