FX.co ★ US Futures Hold Muted Momentum

On Thursday, U.S. stock futures presented a mixed outlook as markets balanced domestic trade policy considerations with significant tech earnings reports. Contracts linked to the S&P 500 and the Nasdaq showed slight upticks, while those for the Dow Jones Industrial Average fell by 200 points. Alphabet's futures saw a 4% increase following the tech giant's announcement of better-than-expected earnings for the June quarter and a commitment to boost AI spending by $10 billion this year. Conversely, Tesla shares dropped by 7% after the company reported earnings and revenues below expectations, with CEO Elon Musk cautioning about challenging upcoming quarters due to dwindling sales in Europe, impending White House tariffs, and the discontinuation of U.S. government EV tax credits. On the trade front, reports suggested progress in EU-U.S. negotiations to potentially reduce tariffs on EU imports to 15%, down from former President Trump’s threat of 30%. President Trump also mentioned that tariffs on other nations, commencing in August, would range between 15% and 50%, exceeding the Liberation Day threshold that previously ignited a selloff in U.S. assets.