Pre-Market | Trump Fed Visit Boosts Market Sentiment, Tech Stocks Surge

24 Jul., DOW FUTURES down 0.39% in pre-market, NASDAQ FUTURES up 0.33% in pre-market, S&P FUTURES up 0.13% in pre-market. President Trump's upcoming visit to the Federal Reserve on Thursday has sparked market anticipation, while the U.S.-Japan trade agreement has eased Fed stability concerns, reducing market risk aversion and driving higher Treasury yields.

In pre-market trading, ServiceNow shares rose 7.19% after the company reported second-quarter earnings that exceeded analyst expectations. Meanwhile, T-Mobile US saw its stock climb 4.52% following the announcement of a raised full-year guidance, driven by record subscriber additions. On the other hand, Tesla's stock dropped 5.99% as its quarterly results fell short of Wall Street's expectations. IBM also faced a decline, with its shares dropping 5.80% due to software growth falling short of investor expectations.

In pre-market trading, Cyclacel shares surged by 69.29% following an update on reverse stock splits incorporated in an SEC filing. Meanwhile, Garden Stage shares rose by 63.64%. On the downside, Anywhere Real Estate shares dropped by 32.98% due to anticipation of an upcoming financial report. Sadot Group shares also declined by 32.05% as a public offering pricing announcement raised share dilution concerns.

President Trump will visit the Federal Reserve on Thursday. Market risk aversion eased significantly, driving investors from bonds to stocks and pushing U.S. Treasury yields higher. Google achieved double-digit search revenue growth, with its AI product AI Overviews exceeding 2 billion monthly active users globally. Tesla revised its annual capital expenditure forecast down to over $9 billion.