Pre-Market | Dow Futures Rise as Strategists Boost S&P 500 Target

11 Aug., DOW FUTURES up 0.29% in pre-market, NASDAQ FUTURES up 0.15% in pre-market, S&P FUTURES up 0.20% in pre-market. Strategists have raised the S&P 500 year-end target, citing tax cuts offsetting tariff impacts and resilient corporate profits. Earnings exceed estimates with potential for further upgrades, driving the index target increase.

Micron Technology shares rose over 5% in pre-market trading, driven by an upward revision in guidance due to improved DRAM pricing and strong execution. Coca-Cola FEMSA saw a rise of nearly 4% in pre-market trading, following the announcement of a strong annual dividend payment with a significant yield. Mitsubishi UFJ Financial Group shares dropped over 4% in pre-market trading, after being downgraded to a sell rating due to performance concerns. Anheuser-Busch InBev shares fell over 1% in pre-market trading, as disappointing sales volumes in Brazil and China missed analyst expectations.

In pre-market trading, International Money Express surged over 61%, while Wang & Lee Group rose nearly 57%. Meanwhile, Thumzup Media plummeted over 34% due to concerns over dilution from a public offering announcement. C3.ai also saw a significant drop of over 31%, with the CEO attributing the weak performance to organizational disruption and personal health issues.

Citigroup increased the S&P 500 index year-end target to 6600, citing corporate tax cuts that offset tariff impacts and strong Q2 earnings, with over 81% of companies exceeding expectations and upgraded EPS forecasts for 2025 and 2026. Tesla expanded operations by applying for an electricity supply license in the UK, opening a second store in New Delhi, India, and announcing plans to launch Robotaxi in certain Asian markets. Nvidia denied any backdoors in its H20 AI chips after Chinese regulatory scrutiny, reiterating cybersecurity commitment.