1. Trade Negotiations Remain in Focus
Trade talks remain a key driver as the U.S. wraps up a week of progress on multiple fronts, signing new deals with Japan, Indonesia, and the Philippines—adding to previously announced agreements with the U.K. and China.
The European Commission noted Thursday that a deal on trade tariffs between the U.S. and EU is “within reach” ahead of the August 1 deadline, when President Trump has threatened a sweeping 30% tariff on EU imports. Reports suggest such a deal could result in a broader 15% tariff on EU goods instead.
The U.S. is also preparing for fresh trade talks with China next week. While both nations agreed earlier this year to lower some tariffs, significant levies (30% to 50%) remain in place, and the U.S. is pushing for further economic concessions from Beijing.
2. U.S. Futures Edge Higher on Strong Earnings
U.S. stock futures are modestly higher this morning, capping a week of gains fueled by strong earnings.
- S&P 500 futures: +45 pts (+0.1%)
- Nasdaq 100 futures: +10 pts (+0.1%)
- Dow futures: +20 pts (+0.1%)
All three major indices are set to finish the week higher, with the Dow and Nasdaq up nearly 1% each, while the S&P 500 has climbed 1.1%. Around 83% of S&P 500 companies reporting so far have beaten estimates, helping markets hit fresh intraday and closing highs on Thursday.
Investors are watching for additional trade headlines before the Aug. 1 tariff deadline, as well as earnings from HCA Holdings (HCA) and Charter Communications (CHTR) today. June durable goods orders are also on the radar ahead of next week’s Federal Reserve meeting.
3. Trump vs. Powell – Clash Over Costs
President Trump and Federal Reserve Chair Jerome Powell sparred Thursday over the rising cost of renovations at the Fed’s Washington headquarters, with the budget increasing from $2.7B to $3.1B—figures Powell disputed.
Trump has softened his stance on removing Powell, saying:
“To do so is a big move and I just don’t think it’s necessary.”
Still, the President reiterated his calls for lower interest rates, citing economic uncertainty tied to U.S. trade policies.
4. Intel Slumps on Weak Guidance
Intel (INTC) shares are under pressure premarket after the company forecast wider losses for Q3 and announced a 22% workforce reduction, aiming to bring headcount to 75,000 by year-end.
In an effort to cut costs and improve capital efficiency, Intel is halting projects in Germany and Poland and slowing construction of its Ohio chip factory to better align with market demand.
Despite the market reaction, our view remains bullish:
Intel’s Q2 results show early signs of a turnaround. We believe its AI and foundry potential, combined with upcoming fab agreements and next-generation chip launches, will be catalysts for higher prices in the months ahead.
5. Oil Prices Rise on Trade Optimism
Crude oil prices extended gains Friday, supported by hopes of additional trade deals ahead of the Aug. 1 tariff deadline.
- Brent: $69.78 (+0.9%)
- WTI: $66.61 (+0.9%)
Both benchmarks jumped more than 1% Thursday following a sharp decline in U.S. inventories. Optimism over easing trade tensions has boosted expectations for global growth and energy demand.
6. Market Snapshot
The $QQQ tech index closed Thursday at 565.01 (+0.21%), just below its all-time high of 566.24. The market remains bullish, with Treasury Secretary Bessent signaling the possibility of 1–2 rate cuts over the next year.
- Bitcoin: ~$116K
- Gold: ~$3,365/oz
- Silver: ~$39.36/oz
Today’s Economic Data:
- 🇺🇸 Core Durable Goods Orders (Jun): 8:30 AM ET
- 🇺🇸 Durable Goods Orders (Jun): 8:30 AM ET
- 🇺🇸 Atlanta Fed GDPNow (Q2): 11:30 AM ET
- 🇺🇸 US Baker Hughes Oil Rig Count: 1:00 PM ET
- 🇺🇸 US Baker Hughes Total Rig Count: 1:00 PM ET
AC&I and Secret Sauce Continue to Print!
Our live trading team has been hitting consistent $5,000 days. If you’re not in these sessions and want to be, email steve@optionsplayers.com.
See you in chat!
If you want to get the plays of the day then signup for Gold, and get a FREE TRIALIf you want to get the plays of the day then signup for Gold, and get a FREE TRIAL
Responses