Dow Futures displayed optimistic momentum on Wednesday as they ticked 200 points after the US-Japan trade deal was finalised and President Donald Trump indicated that more trade deals may be announced soon.
Dow Jones Futures rose by 217 points while S&P 500 futures climbed 0.4% and Nasdaq-100 futures edged up 0.2%.
The rally on Wednesday came as the Wall Street indices continue to trade near record highs.
Tuesday marked the benchmark’s 11th record finish of 2025. The Dow Jones Industrial Average gained nearly 180 points, while the tech-focused Nasdaq Composite slipped around 0.4% due to weakness in chip stocks.
5 things to know before Wall Street opens today
1. A big trade deal between the US and Japan is sending stock futures higher this morning.
The agreement includes mutual 15% tariffs on certain Japanese goods, but the headline grabber is Japan’s pledge to invest $550 billion into the US economy.
Markets are reacting fast. Japan’s Nikkei 225 jumped 3.5%, and the positive sentiment is spreading as stocks are green across Asia and picking up in Europe too.
2. Alphabet and Tesla are both set to report earnings after the bell today, and Wall Street will be watching closely.
For Alphabet, the big question is whether all the money it’s been pouring into AI is starting to show real returns.
There’s also fresh pressure after a recent federal ruling that could force a Chrome divestiture, something that could reshape part of Google’s core business.
Tesla’s report is under even more of a microscope. The stock’s already down 18% this year, and investors are eager for updates on the electric vehicle side of the business, as well as the much-hyped robotaxi project.
3. Meme stocks are making noise again in pre-market trading. Rocket (KT) and Krispy Kreme (DNUT) are both seeing strong double-digit gains as retail traders pile in.
It’s another sign that retail enthusiasm is still a real force in the market and one that continues to fuel short-term volatility, especially in smaller or heavily shorted names.
4. Texas Instruments (TXN) dropped more than 11% in after-hours trading after issuing weaker-than-expected guidance for the third quarter.
The news put pressure on other chipmakers too, with names like Analog Devices (ADI) and NXP Semiconductors (PI) also slipping.
The pullback is being blamed on softer demand from the auto sector and growing concerns about what upcoming tariffs might mean for the broader semiconductor industry.
5. The S&P 500 notched another all-time high as earnings season rolls on, but trade tensions are still casting a shadow, especially for multinationals.
Companies like General Motors are already warning of the fallout, projecting a $4–5 billion impact from tariffs in 2025.
With the next big tariff decision set for August 1, trade policy remains front and center for both the Fed and market watchers.
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