Stock futures are higher as Wall Street awaits latest earnings report: Live updates

Tue, Jul 21 20264:13 PM EDT

The three leading U.S. indexes finished in positive territory on Tuesday.

The Dow Jones Industrial Average gained 385.38 points, or 0.74%, to end at 52,224.64. The S&P 500 moved up 0.89% to 7,509.20, and the Nasdaq Composite finished 1.29% higher at 25,837.21.

— Sean Conlon

Tue, Jul 21 20263:41 PM EDT

Investors are waiting to see how earnings shake out before they make any moves, according to Sam Stovall, chief investment strategist at CFRA Research.

Earnings growth expectations have only risen since the start of the second quarter reporting season, up to 25%, per FactSet. But the strategist worries that earnings growth could be reaching an inflection point that could spell trouble in the coming quarters.

“Investors are basically saying, ‘If we are now starting to be on the leeward side of this earnings mountain, the best is likely behind us,'” he said. “They’re taking a wait-and-see attitude because they want to hear what Nvidia, AMD and all of the other companies say about this quarter and what their guidance is.”

— Sean Conlon

Tue, Jul 21 20262:49 PM EDT

Jason Alden | Bloomberg | Getty Images

Shares for gambling company Flutter Entertainment are down nearly 4% on Tuesday, heading towards a fourth consecutive day of negative session. The lower numbers comes as prediction market volume reached about $10 billion in June, according to Bank of America note. 

“Additionally, the % of DKNG users who also use Kalshi was 9.5% in June per Sensor Tower, up from 4% in January,” they wrote. 

The analysts gave FanDuel, which is owned by Flutter, an estimated EBITDA of $634 million, which is much lower than Flutter’s guidance of about $970 million. 

Despite the lower shares, the analysts rated both DraftKings and Flutter as neutral. For Flutter’s upcoming earnings on Aug. 5, the analysts want to hear on FanDuel Predicts’ strategy for the NFL season. 

— Ananya Chetia

Tue, Jul 21 20261:38 PM EDT

Here are some of the companies making headlines in midday trading:

• Genuine Parts — The provider of automotive replacement parts dropped almost 3% after management confirmed that the company isn’t in talks with any competitor over a potential transaction. Earlier this month, Bloomberg News reported, citing people familiar, that O’Reilly Automotive was interested in acquiring Genuine Parts’ auto parts business. O’Reilly was last up nearly 4%.
• Equifax – Shares of the credit bureau dropped 7%. Equifax issued third-quarter guidance that disappointed Wall Street, calling for adjusted earnings of $2.15 to $2.25 per share on revenue of $1.68 billion to $1.71 billion. The FactSet consensus anticipated $2.26 per share in earnings and $1.71 billion in revenue.
• Memory chips — Traders snapped up shares of memory chip companies ahead of key tech reports due this week that will shed light on the state of the artificial intelligence trade. The Roundhill Memory ETF (DRAM) jumped 11%, while Micron Technology, Western Digital and Seagate Technology each added about 12%.

Read here for the full list.

— Sarah Min and Darla Mercado

Tue, Jul 21 202611:15 AM EDT

This photograph shows set up screens displaying the logo and home page of US based prediction market platform Kalshi, in Saint-Mande, east of Paris, on April 29, 2026.

Martin Lelievre | AFP | Getty Images

Kalshi filed to approve perpetual contracts on metals with the Commodity Futures Trading Commission on Tuesday. 

“Perpetual futures have become the dominant form of derivative and a principal locus of price discovery in the markets in which they have emerged, yet that activity has historically occurred almost entirely on offshore, unregulated venues,” the filing read. 

The perps on silver, gold and platinum would trade 24 hours a day and five days a week, Bloomberg first reported. 

The prediction market platform first introduced crypto perpetual futures, or “perps,” in the end of May. Unlike event contracts, those contracts have no expiration date. 

— Ananya Chetia

Tue, Jul 21 202610:15 AM EDT

Billboards in Times Square celebrate the SpaceX IPO debut at the Nasdaq on June 12th, 2026.

Adam Jeffery | CNBC

SpaceX shares rose nearly 6% in morning trading Tuesday, snapping a seven-session losing streak after analysts at Macquarie reiterated their outperform rating and urged investors to buy the recent weakness.

The stock climbed to around $125, though it remains below its $135 initial public offering price following a sharp post-listing pullback.

Macquarie said the recent decline presents a buying opportunity, arguing that investors continue to underestimate the company’s long-term artificial intelligence potential alongside its core space business.

“We see significant upside from AI optionality; achieving only a fraction of terminal compute ambitions could justify valuation above current levels,” the analysts wrote in a note to clients.

The rebound follows a steep selloff that pushed SpaceX below its IPO price amid broader pressure on high-growth technology stocks and increasing bearish bets from short sellers. Even after Tuesday’s gain, the shares remain well below the highs reached shortly after the company’s public debut.

SpaceX one month

Tue, Jul 21 20269:47 AM EDT

US Trade Representative Jamieson Greer speaking on CNBC’s Squawk Box on July 21st, 2026.

CNBC

U.S. Trade Representative Jamieson Greer hinted that new tariffs against a slew of countries could be on the way.

In an appearance on CNBC’s “Squawk Box,” Greer said that he expects “to see some action soon.” It came after he was asked about a Financial Times report that President Donald Trump was planning to launch new tariffs against dozens of country ahead of the expiration of his 10% global tariff.

On Monday, Trump instituted a 50% tariff against most Canadian goods. Senior Trump administration officials it was in retaliation for alleged trade discrimination of U.S. products and industries in the country.

— Davis Giangiulio

Tue, Jul 21 20269:38 AM EDT

U.S. equities began Tuesday’s session in the green.

The Dow Jones Industrial Average added 212 points, or 0.4%, just after 9:30 a.m. ET. The S&P 500 rose 0.6%, while the Nasdaq Composite gained 1%.

— Sean Conlon

Tue, Jul 21 20268:50 AM EDT

Chairman and CEO of JPMorgan Chase & Co. Jamie Dimon speaks during the special event “Liberty Lights” at the Statue of Liberty to celebrate the 250th anniversary of US independence on Liberty Island in New York City, on July 1, 2026.

Angela Weiss | Afp | Getty Images

JPMorgan Chase CEO Jamie Dimon said investors are underestimating the risks facing the global economy and that he wouldn’t buy either equities or long-dated U.S. Treasurys at their current prices.

In an hourlong interview with Wilfred Frost released late Monday, Dimon said markets aren’t fully accounting for a growing list of geopolitical and fiscal threats.

“I do think those risks are probably bigger than other people think,” Dimon said, pointing to wars in Ukraine and the Middle East, tensions between the U.S. and China, and rising military spending in a time of mounting government deficits.

Asked whether markets are underpricing the chance of a major shock, Dimon said it’s difficult to know exactly what risks are already reflected in asset prices.

“It’s possible something’s baked in, but what’s not baked in is what actually happens,” he said. Read more.

— Hugh Son

Tue, Jul 21 20268:32 AM EDT

Check out the companies making headlines before the bell:

• Novartis — Shares jumped 4% after the Swiss pharmaceutical company posted second-quarter core earnings and revenue that exceeded expectations, adding that it “remains on track” to deliver on its full-year guidance and midterm outlook. Core earnings of $2.41 per share topped the StreetAccount consensus of $2.15 per share Revenue of $14.41 billion beat the $13.95 billion forecast.
• General Motors — The company earned an adjusted $3.57 per share on revenue of $48.03 billion. Analysts polled by LSEG expected a profit of $3.20 per share on revenue of $47.01 billion. Shares gained more than 1% on the back of the results.
• Domino’s Pizza — Shares of the pizza chain dropped 1% after Domino’s Pizza posted second-quarter earnings of $4.07 per share, which missed the LSEG consensus estimate of $4.17 per share. Revenue of $1.19 billion, on the other hand, slightly beat the expected $1.18 billion.

Read the full list here.

— Sarah Min

Tue, Jul 21 20267:55 AM EDT

In an aerial view, a sign is posted on the exterior of an Adobe office on Dec. 10, 2025 in San Francisco, California.

Justin Sullivan | Getty Images

Morgan Stanley downgraded Adobe to underweight from equal weight, slashing its price target to $240 from $365. 

“Adobe’s concurrent freemium, leadership, and reinvestment transitions compound execution risk as GenAI disruption debate increasingly clouds the path to ARR reacceleration.,” Adam Wood, an equity analyst with the bank, wrote in his note.

Wood argued that the software maker faces mounting execution risks as it navigates several major transitions at once, adding that its best-in-class margins may be near peak as AI and low-ARPU engagement require more spending.

Wood also warned that parts of Adobe’s Creative Cloud business remain exposed to generative disruption risk.

— Deena Zaidi

Tue, Jul 21 20266:44 AM EDT

Shares of 3M jumped 7% in the premarket after the industrial giant reported better-than-expected results for the second quarter and lifted its full-year earnings guidance.

The company earned an adjusted $2.40 per share on revenue of $6.5 billion. Analysts polled by LSEG expected a profit of $2.25 per share on revenue of $6.41 billion.

For the year, 3M sees EPS in a range of $8.80 to $8.95, up from a prior guidance of $8.50-$8.70 per share.

MMM 5-day chart

Tue, Jul 21 20266:40 AM EDT

The General Motors logo on GM’s global headquarters in Detroit, Michigan, Jan. 12, 2026.

Jeff Kowalsky | Bloomberg | Getty Images

GM shares were up more than 2% after the automaker posted second-quarter results that beat the Street.

The company earned an adjusted $3.57 per share on revenue of $48.03 billion. Analysts polled by LSEG expected a profit of $3.20 per share on revenue of $47.01 billion.

GM also raised its EBIT guidance for the full year.

Read more here.

GM 5-day chart

Tue, Jul 21 20266:10 AM EDT

Secretary of State for Defence John Healey arrives in Downing Street to attend the weekly Cabinet meeting in London, United Kingdom on June 02, 2026.

Wiktor Szymanowicz | Future Publishing | Getty Images

Andy Burnham became the U.K.’s seventh prime minister in 10 years on Monday — but the appointment of his finance minister was just as closely watched as his ascent to power.

In a surprise move, former defense minister John Healey was announced as Burnham’s Chancellor of the Exchequer late on Monday. Prior to the announcement, it was widely expected that Shabana Mahmood — who has been reappointed home secretary — would become Burnham’s chancellor.

For months, Burnham’s emergence as the frontrunner to replace Keir Starmer rattled bond traders who feared more left-leaning policies would be rolled out under his stewardship.

But yields on U.K. government bonds, known as gilts, fell across the curve on Tuesday, suggesting markets had been calmed by Healey’s appointment.

“We’ve taken the view that Burnham’s likely to be left of Starmer, and so it’s going to be higher tax, lower growth, and that’s tough for rate-sensitive parts of the economy,” George Godber, who manages the £781 million Polar Capital UK Value Opportunities Fund, told CNBC on Tuesday.

Read more here.

— Chloe Taylor

Tue, Jul 21 20265:55 AM EDT

• U.S. stock futures rose ahead of Tuesday’s opening bell, looking poised to rebound from Monday’s losing session.
• Central Command carried out its 10th consecutive night of strikes on Iran since President Donald Trump declared the ceasefire “over,” while Tehran’s forces struck U.S. military assets across the Middle East.
• Gold rose over 1% as oil prices eased, silver jumped 5%.
• U.K. defense and aerospace stocks jumped on Tuesday morning after John Healey was named finance minister by new prime minister Andy Burnham.

— Joseph Wilkins

Tue, Jul 21 20265:08 AM EDT

Nebius and Calix are among the stocks making moves before the U.S. market opens as investors look ahead to a busy earnings week, which will see Alphabet, IBM, and Tesla report.

Take a look at the key stocks making moves in premarket trading on Tuesday:

• Nebius last surged nearly 6% after chip giant Nvidia disclosed a 9.3% passive stake in the AI infrastructure and cloud computing firm.
• Calix, the telecommunications firm, plummeted 15% after reporting second-quarter earnings on Monday.

— Sawdah Bhaimiya

Tue, Jul 21 20265:10 AM EDT

Gold and silver prices rose on Tuesday as diplomatic efforts aimed at easing the U.S.-Iran conflict got underway. 

Spot gold rose 1.3% to $4,059 per ounce shortly after 4:50 a.m. ET, while U.S. gold futures for August delivery were up 1.43% to $4,067 per ounce. Spot silver prices extended earlier gains to add 5%.

It comes as analysts say uncertainty over Fed policy grows amid persistent inflation linked to the U.S.-Iran war.

“We believe the gold market is still digesting hawkish signals from Fed Chair Kevin Warsh and the fixed income market’s expectations for higher U.S. policy rates,” UBS wrote in a note on Monday. 

“Should US economic activity surprise to the upside, with new jobs indicating a tightening labor market and oil prices edging higher, the near-term outlook for gold would remain challenging, putting prices under renewed downward pressure.”

— Joseph Wilkins

Tue, Jul 21 20264:53 AM EDT

U.K. defense and aerospace stocks jumped on Tuesday morning after John Healey was named finance minister by new prime minister Andy Burnham.

Babcock International surged 7.3% in morning trade, with Qinetiq rising about 3.8%. BAE Systems rose 3.3%, and Rolls-Royce Holdings added 1.6%.

Citi analysts said in a note that investors would see Healey’s appointment as a positive for the defense sector.

Babcock International.

Healey last month quit as defense secretary following a dispute over funding for the U.K.’s armed forces. In a blow to then-prime minister Keir Starmer, Healey accusing the government of being unable to commit resources to the U.K.’s defense and security amid rising global threats.

— Hugh Leask

Tue, Jul 21 20263:47 AM EDT

FILE PHOTO: The logo of Swiss drugmaker Novartis is seen at the company’s new cell and gene therapy factory in Stein, Switzerland, November 28, 2019.

Arnd Wiegmann | Reuters

Novartis shares rose 1.7% shortly after 8:30 a.m. in London (3:30 E.T.) after the Swiss pharma giant posted a beat on second-quarter core operating profits, amid strong sales of its cancer and multiple sclerosis treatments. It came as the rest of the European pharma sector traded broadly lower.

It comes as the drug maker continues to navigate patents expiring for key products.

Rajesh Kumar, Head of European Life Sciences & Healthcare Equity Research at HSBC hailed the company’s cost controls and its execution, but told CNBC there remains a risk over its clinical trial profile.

“The main risk now is around their readout in Pelacarsen, which has been delayed from last year to now first quarter, now second quarter, now hopefully this quarter,” Kumar said. “That remains the main risk… for the bull case for Novartis. It’s a very well run company. Execution is solid. It’s just the clinical trial profile which is a bit of a risk here.”

Tue, Jul 21 20263:23 AM EDT

Abu Dhabi’s National Oil Company will invest $6.2 billion to develop the Umm Shaif Gas Cap, a massive offshore oil and gas field, as part of its strategy to expand natural gas production and liquefied natural gas exports.

Disruptions in the Strait of Hormuz, usually an avenue for around 20% of the world’s LNG trade, have underscored the importance of the project and highlighted the vulnerability of global energy supplies.

Umm Shaif, Abu Dhabi’s longest-operating offshore field, is being developed alongside TotalEnergies, Eni and China National Petroleum Corporation.

— Emma Graham

Tue, Jul 21 20263:15 AM EDT

The pan-European Stoxx 600 advanced 0.14% shortly after 8:10 a.m. in London (3:10 E.T.).

Most major bourses on the continent notched early gains, with the Italian FTSE MIB rising 0.55%, Germany’s DAX up 0.19%, and the French CAC 40 adding 0.15%. The U.K.’s FTSE 100 was down 0.31%.

Regional sectors were mixed, with technology stocks and mining names both up about 1.2%, while media companies tumbled 0.9%.

Tue, Jul 21 20263:19 AM EDT

Asia-Pacific markets closed in the green. Japan’s Nikkei 225 added over 3% to 66,232.19, while the Topix rose 2.44% to 4,014.95. South Korea’s Kospi advanced 3.56% to 6,747.95 while the Kosdaq edged up 0.49% to 753.34.

Australia’s benchmark S&P/ASX 200 was little changed at 8,793.3.

Mainland China’s CSI 300 was up over 3% at 4,739.23, while Hong Kong’s Hang Seng index rose 0.25% in the last hour of trade.

— Lee Ying Shan

Tue, Jul 21 20262:08 AM EDT

European stock markets are set to start Tuesday’s session in mixed territory.

London, the FTSE 100 was seen 0.56% lower ahead of the opening bell, dragged lower by the presence of several energy majors on the U.K. index as oil prices headed lower.  

France’s CAC 40 was set to open 0.17% lower in Paris, while Germany’s DAX was flat ahead of the market open in Frankfurt. The Italian FTSE MIB was in positive territory, up 0.26% in Milan.

Futures tied to the Stoxx 50 were seen 0.1% higher.

— Hugh Leask

Tue, Jul 21 20261:46 AM EDT

Tue, Jul 21 20261:28 AM EDT

Britain’s former defense secretary John Healey leaves 10 Downing Street in London July 20, 2026 as cabinet appointments are being made after Andy Burnham became Britain’s new Prime Minister.

Henry Nicholls | Afp | Getty Images

The U.K.’s new finance minister John Healey faces a formidable fiscal challenge as Prime Minister Andy Burnham looks to reshape Britain’s economic model.

Healey — who was previously the U.K.’s defense minister, having previously held a junior role at the Treasury — replaces Rachel Reeves as Chancellor, in a surprise move by Burnham. Home Secretary Shabana Mahmood had earlier been widely expected to be handed the role, but will remain in her current post.

“Healey is widely regarded as a safe pair of hands who is likely to deliver on Burnham’s agenda rather than pursue an agenda of his own,” said Harry Woolman, global capital markets analyst at Validus Risk Management.

New Prime Minister Burnham took office on Monday, promising a “new economic model” for Britain, with a 10-year plan involving the reindustrialization of the country, and a more collaborative approach to politics. He is expected to outline further policy measures aimed at easing the U.K.’s cost-of-living burden, and how these will be funded, in a speech later Tuesday.

“This will no doubt be high on the new Chancellor’s agenda for the foreseeable future,” Woolman said.

However, Sanjay Raja, chief U.K. economist at Deutsche Bank, said the U.K.’s new Chancellor faces a tighter fiscal backdrop, with the looming Autumn Budget now set to be one of the important domestic policy events for markets this year.

“Headroom appears limited, with earlier buffers partly eroded by higher rates, a softer macro-outlook and renewed geopolitical risks,” Raja said. “Energy prices have eased from their peaks, but renewed upward pressure remains a key risk.”

— Hugh Leask

Tue, Jul 21 202612:53 AM EDT

U.S. Treasury yields edged lower across the curve on Tuesday. The benchmark 10-year Treasury yield slipped 0.6 basis point to 4.592%, while the two-year yield fell 1.1 basis points to 4.204%. The 30-year bond yield eased 0.3 basis point to 5.115%. Bond yields move inversely to prices.

BMO Capital Markets said the Treasury market has remained relatively steady despite the latest escalation in the Middle East, as signs of possible mediation tempered the initial jump in oil prices. With little U.S. economic data due this week, however, strategists warned that government bonds could remain vulnerable to abrupt moves in energy prices and developments in the Iran conflict.

“The degree to which nominal yields can decline will be tempered by the market’s ongoing focus on the energy sector and geopolitical tensions,” the BMO strategists said, adding that July and August inflation reports would be needed before investors could conclude that energy-driven inflation pressures had peaked.

— Lee Ying Shan

Mon, Jul 20 202611:04 PM EDT

Oil prices rose slightly on Friday before a long holiday weekend in the U.S. as wary optimism held over efforts to make peace in the Middle East between the United States and Iran.

Lucy Nicholson | Reuters

Oil prices edged lower on Tuesday as investors balanced reports that the U.S. and Iran could be exploring mediation efforts against fresh military exchanges and new threats from Yemen’s Houthis to impose a naval blockade on Saudi Arabia.

U.S. crude futures for August delivery fell 0.3% to $82.98 per barrel, while international Brent crude futures for September delivery declined 0.56% to $88.72 per barrel.

“While the Houthis have not yet clarified how the blockade would be enforced, their previous campaign against commercial vessels demonstrates both the capability and willingness to disrupt Red Sea shipping,” Rystad Energy senior vice president Jorge Leon wrote in a note published Tuesday.

— Lee Ying Shan

Mon, Jul 20 202610:59 PM EDT

Mainland China’s CSI 300 was down 0.18%, while Hong Kong’s Hang Seng index declined 0.18% in the first hour of trading.

Deutsche Bank chief investment officer for emerging markets Jacky Tang told CNBC he remains constructive on Chinese equities in the second half of the year, citing a combination of artificial intelligence, energy security investment, state-owned enterprise reforms and export-oriented companies as key tailwinds.

“We actually identified a few structural drivers to push the Chinese financial market in the second half of the year,” he said, adding, “We think that China in the second half will continue to do well.”

Year-to-date, the Hang Seng Index is down around 1.8% while the CSI 300 is about 0.3% lower, data from LSEG showed.

— Lee Ying Shan

Mon, Jul 20 20268:15 PM EDT

Asia-Pacific markets opened mixed on Tuesday.

Japan’s Nikkei 225 added 0.8%, while the Topix rose 0.86%. South Korea’s Kospi advanced 0.1% while the Kosdaq declined 0.72%.

Australia’s benchmark S&P/ASX 200 was down 0.58%.

— Lee Ying Shan

Mon, Jul 20 20268:44 PM EDT

Asia-Pacific markets were set for a mixed open on Tuesday as investors weighed rising geopolitical tensions in the Middle East, fresh U.S. tariffs on Canadian imports and higher oil prices.

Japan’s benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 64,965 against the index’s last close of 64,141.12.

Futures for Hong Kong’s Hang Seng index last traded at 25,099 compared to the index’s last close of 25,143.05.

Futures for Australia’s benchmark S&P/ASX 200 were last at 8,717 compared to its close of 8,791.3.

U.S. President Donald Trump vowed Iran would face consequences following the deaths of three American service members, while Yemen’s Houthi militants announced a maritime embargo on Saudi Arabia, raising fresh concerns over energy supplies.

Separately, the Trump administration unveiled an additional 50% tariff on a range of Canadian imports, accusing Ottawa of unfair trade practices across several U.S. industries.

Trump signed three proclamations imposing the higher duties on Canadian motor vehicles, alcohol and dairy products, with administration officials saying the measures were intended to address what Washington views as discriminatory treatment of U.S. exports.

— Lee Ying Shan

Mon, Jul 20 20266:02 PM EDT

U.S. equity futures were little changed to begin trading on Monday night. Futures tied to the Dow Jones Industrial Average ticked up 12 points, or 0.02%. S&P 500 futures and Nasdaq 100 futures were down by 0.05% and 0.01%, respectively.

— Tanaya Macheel