Stock market today: Dow, S&P 500, Nasdaq futures trade flat as Wall Street braces for Big Tech earnings

📊 Market Snapshot

• Futures steady: As of this morning, Dow, S&P 500, and Nasdaq futures were trading flat to modestly higher—ranging from around 0% to +0.3%—as investors await the start of Big Tech earnings season .
• Record highs: The S&P 500 recently closed above 6,300, and the Nasdaq hit successive record highs—climbing approximately 0.1% and 0.4%, respectively—while the Dow remained slightly lower Google.
• Cautious sentiment: The calm reflects cautious optimism, balancing strong earnings with ongoing trade tensions. Notably, Commerce Secretary Lutnick affirmed that August 1 marks the tariff deadline, though negotiations continue Reuters

🔍 What’s Driving the Market

1. Big Tech Earnings in Focus

• The upcoming earnings from the “Magnificent Seven”—particularly Alphabet and Tesla—are heavily anticipated. Analysts expect earnings growth of around 14% for these megacaps, compared to roughly 3.4% for the rest of the S&P 500 Investors.com+.
• Monday’s rally in futures (~+0.25%) was powered by optimism around these reports Mitrade+.

2. Trade Tensions Loom

• Markets are also digesting the risk of increased tariffs set to begin August 1. The U.S. threatens tariffs of 20–50%, while the EU and other partners eye retaliatory measures .
• Even so, upbeat corporate earnings have helped offset some tariff-driven concern Reuters.

3. Macro Watch: Fed & Economic Data

• Federal Reserve Chair Powell’s upcoming speech is being dissected for rate-hike cues. Currently, markets price in steady rates now, with potential cuts likely in September ReutersNBC 5 Dallas-Fort WorthReuters.

🧭 Key Indicators

SwingTradeBot

🧭 Bottom Line

Markets are in a holding pattern, digesting:

1. Anticipated blockbuster earnings from the tech giants.
2. Persistent trade uncertainties, particularly tariffs set post-August 1.
3. Awaiting Fed commentary to reassess rate expectations.

Bottom line: Investors are exercising caution—futures remain flat—but underlying strength from earnings and signs of macro stability could propel stocks higher if results meet expectations.