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Stocks Gain Pre-Bell as Investors Await Latest Batch of Corporate Earnings, Navigate Tariff Uncertainties
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Stocks Gain Pre-Bell as Investors Await Latest Batch of Corporate Earnings, Navigate Tariff Uncertainties
Aug 6, 2025 4:39 AM

07:24 AM EDT, 08/06/2025 (MT Newswires) -- The main US stock measures were up in Wednesday's premarket activity as investors await the latest financial results of several major companies, while continuing to navigate persistent tariff uncertainties.

The S&P 500 rose 0.2%, the Dow Jones Industrial Average inclined 0.3% and the Nasdaq added 0.1% before the opening bell. The indexes closed the previous trading session lower.

McDonald's (MCD), Walt Disney ( DIS ) , Uber Technologies ( UBER ) , Shopify (SHOP), Emerson Electric ( EMR ) , Rockwell Automation ( ROK ) , Global Payments ( GPN ) , Unity Software ( U ) and Planet Fitness ( PLNT ) are expected to release their latest quarterly earnings before the bell, among others.

Applovin ( APP ) , DoorDash ( DASH ) , McKesson (MCK), Airbnb ( ABNB ) , DraftKings ( DKNG ) and Lyft ( LYFT ) are scheduled to post their results after the markets close.

Novo Nordisk's ( NVO ) US-listed stock declined 1.2% pre-bell as the Danish pharmaceutical giant trimmed its full-year sales growth outlook despite reporting better-than-expected second-quarter results. Advanced Micro Devices ( AMD ) fell 6.4% as the chipmaker's second-quarter adjusted earnings decreased in line with market estimates.

Snap (SNAP) dropped 18% as the Snapchat parent's quarterly results missed Wall Street's expectations. Super Micro Computer ( SMCI ) slipped 16% following its quarterly results.

Canadian Prime Minister Mark Carney was reported on Wednesday to be considering removing some counter-tariffs against the US. "We have removed some tariffs over time so that, for example, the auto industry can function more effectively," Carney said, according to a Bloomberg News report. "And we'll look at opportunities to do so." The White House recently imposed duties of 35% on Canada.

US President Donald Trump told CNBC in a Tuesday interview that he will announce new tariffs on semiconductors and chips as soon as next week. Trump also said his administration is getting "very close to a deal" with China.

Treasury yields were moving up before the open, with the two-year rate increasing 1.8 basis points to 3.73% and the 10-year rate gaining 4 basis points to 4.24%.

The services sector edged down to 50.1 last month from 50.8 in June amid a slowdown in business activity and new orders, a survey by the Institute for Supply Management showed Tuesday. The survey was deemed "bad news for the health of the economy as more than 80% of all jobs come from the services sector," according to Scott Anderson, chief US economist at BMO Capital Markets.

The US trade deficit in June hit its lowest level since September 2023 as imports dropped, while the goods trade gap with China shrank to its lowest in more than 21 years, government data showed Tuesday.

Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the weekly EIA domestic petroleum inventories report at 10:30 am. Federal Reserve Governor Lisa Cook and Boston Fed President Susan Collins are slated to speak at 2 pm, while San Francisco Fed President Mary Daly speaks at 3:10 pm.

West Texas Intermediate crude oil advanced 1.7% to $66.28 a barrel in premarket action. Gold retreated 0.6% to $3,416 per troy ounce, while bitcoin edged up 0.4% to $114,063.

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