Pre-Market | Fed Signals Rate Hikes Amid Inflation Concerns Dow Futures Fall 081

1 Aug., U.S. June personal consumption expenditures index slightly exceeded economist forecasts, indicating persistent inflation pressures amid concerns over restrictive monetary policy. Meanwhile, a Federal Reserve governor emphasized moving interest rates closer to neutral levels and cautioned against delaying action until labor markets weaken further. In pre-market trading, Dow Futures fell 0.81%, Nasdaq Futures dropped 1.01%, and S&P Futures declined 0.85%, reflecting investor concerns over inflation and monetary policy.

Unilever shares rose nearly 2% in pre-market trading, driven by strong ice cream sales growth and progress on its demerger plans. Novo Nordisk also saw a rise of 1.85% in pre-market trading. Meanwhile, Amazon.com shares dropped over 8% in pre-market trading due to disappointing cloud computing growth that failed to impress investors. Advanced Micro Devices shares dipped over 3% in pre-market trading, following a surge in AI accelerator prices.

Marwynn Holdings surged over 92% in pre-market trading, driven by a positive earnings report that exceeded market expectations. Namib also saw a significant rise, up nearly 62% in pre-market, following its successful listing on Nasdaq and corporate growth initiatives. Incannex Healthcare, however, dropped over 25% in pre-market, as market skepticism about regulatory hurdles and capital needs weighed on the stock. Pop Culture declined over 24% in pre-market, as the company pivoted to residential projects amid operational challenges and past losses.

Fed officials signaled potential monetary policy easing, with Governor Waller urging interest rates to move closer to neutral levels without waiting for labor market deterioration, and Governor Bowman highlighting emerging fragility in the labor market amid moderated inflation risks. Trump criticized the Fed chair for delaying rate cuts and urged the Fed Board to assert control to spur action. China's manufacturing PMI fell to 49.5 in July, pointing to economic contraction. Apple saw its stock target price raised to $240 and reported $800 million in losses due to tariffs, with additional costs possible in the current quarter, while also acquiring seven companies this year to boost AI development.