Pre-Market | Pre-Market Surge in Dow Futures Amid Fed Rate Speculation Toyota and GE Vernova Lead Gains

23 Jul., DOW FUTURES up 0.48% in pre-market, NASDAQ FUTURES up 0.19% in pre-market, S&P FUTURES up 0.38% in pre-market. With the Federal Reserve's policy meeting approaching next week, investor caution has driven declines in US Treasury yields, particularly for longer maturities. Market expectations strongly indicate the central bank will maintain current interest rates unchanged, amid ongoing inflation monitoring.

Toyota Motor saw a significant rise of 12.36% in pre-market trading, driven by the US-Japan trade deal that reduced tariffs, enhancing the company's business outlook. GE Vernova also experienced a notable increase of 4.90% in pre-market trading, following the company's better-than-expected Q2 profit and lifted financial forecasts. Texas Instruments, however, faced a decline of 9.95% in pre-market trading due to a soft profit forecast for the upcoming quarter. Analog Devices saw a decrease of 5.27% in pre-market trading, following a 4.79% drop during Tuesday's after-hours session.

In pre-market trading, Abivax surged over 461% following the release of positive Phase 3 clinical trial results for its ulcerative colitis drug. Pineapple Financial also saw a significant rise, up nearly 153%, due to a proposed share consolidation aimed at strengthening its capital structure and supporting long-term growth. Meanwhile, Dragonfly Energy's stock dropped over 17% after disappointing Q4 earnings. Fiserv's share price declined over 13% despite beating Q2 earnings estimates, as investors refocused on the company's refined 2025 outlook.

Microsoft server software was targeted by a large-scale cyber espionage campaign, with the foreign ministry stating ignorance on specifics but emphasizing cooperation against cybersecurity threats and opposing unfounded accusations. OpenAI's CEO warned at a Federal Reserve conference that AI can now bypass most identity authentication methods, heightening risks of fraud in the financial sector. Ahead of the Federal Reserve's imminent rate decision, investors turned cautious, driving declines in Treasury yields including the 10-year yield, amid strong market expectations for unchanged interest rates.