Stock market today: Dow, S&P 500, Nasdaq futures rise after US strikes a trade deal with Japan, Q2 earnings continue to come in

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US stock futures stepped higher on Wednesday after the US struck a trade deal with Japan and Wall Street readied for Tesla and Alphabet earnings.

Dow Jones Industrial Average rose roughly 0.3%, while S&P 500 futures moved up 0.2% on the heels of the benchmark ekeing out another record closing high. Contracts on the tech-heavy Nasdaq 100 edged up 0.1%.

Trump posted on Truth Social on Tuesday evening, “We just completed a massive Deal with Japan, perhaps the largest Deal ever made." The president said that the agreement includes a 15% tariff on imported goods from Japan - a step down from the threatened 25% rate on its autos.

Google-parent Alphabet and Tesla are set to kick off highly anticipated second-quarter results from the "Magnificent Seven" after the bell Wednesday. Yahoo Finance reports.

🚙 Tesla's quarterly results: what are investors and fans looking for?

Tesla is likely to post its biggest drop in quarterly revenue in more than a decade on Wednesday, as the EV maker grapples with issues including increased competition, a lack of new models and consumer backlash against CEO Elon Musk. Reuters reports.

📷 GoPro's stock soars 60% after hours: here's what's going on:

GoPro witnessed a surge in its stock value during after-hours trading on Tuesday. The stock value increased by 59.85% to $2.19, continuing the momentum from the regular trading session.

GoPro’s stock closed at $1.37 during the regular trading session on Tuesday, but experienced an increase during after-hours trading, reaching $2.19, marking a 59.85% increase. This sharp increase comes amid a renewed interest in meme stocks, with retail investors driving up the prices of companies like GoPro, reminiscent of the earlier rallies seen with GameStop Corp. Benzinga reports.

🧑‍⚕️ Thermo Fisher beats quarterly estimates on resilient demand for its tools and services:

Thermo Fisher on Wednesday beat Wall Street estimates for second-quarter profit and revenue, helped by steady demand for its products and services used for developing therapies.

Shares of the medical equipment maker were up 2.5% in premarket trading.

The company joins peers such as Danaherin beating quarterly profit estimates, citing strong demand from the industry for tools and services used to make vaccines and therapies. Reuters reports.

🪄 Hasbro lifts annual revenue forecast on strong demand for "Magic: The Gathering" games

Hasbro raised its annual revenue forecast on Wednesday, as the toymaker leans on strength of "Magic: The Gathering" games and cost-cutting efforts to weather the impact from mounting economic and tariff uncertainty.

The company's shares rose about 3% in premarket trading as the Monopoly maker also beat expectations for second-quarter results.

In the second quarter, Hasbro's revenue in "Wizards of the Coast" and digital gaming segment rose 16% due to momentum in "Magic: The Gathering", whose revenue surged 23% driven by growth in tabletop. Yahoo Finance reports.

💵 How the dropping dollar could scramble Trump's agenda:

President Trump and his aides are closely watching the US dollar's drop over the first six months of this year as they track a change that could have wide-ranging effects, from how tariffs are felt to Federal Reserve policy to America's role in the world.

The question, which notably remains a somewhat open one even among Trump's aides, is whether the net effects may include at least some positive short-term consequences for the president's agenda or whether the dollar needs to be strengthened at all costs.

Commerce Secretary Howard Lutnick offered a limited case for a weaker dollar on CBS over the weekend when he responded to a question about rising consumer prices by saying that "the dollar declining sort of softens tariffs completely." Yahoo Finance reports.

📊 Stay on top of Q2 earnings:

Earnings season is here - don’t miss a beat. Check out the latest Q2 earnings reports as they roll in, all in one place on Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1) $ABVX: Abivax

Total gain: +445.4%

2) $PAPL: Pineapple Financial

Total gain: +197.71%

3) $OFAL: OFA

Total gain: +51.44%

4) $VICR: Vicor

Total gain: +48.23%

5) $GPRO: GoPro

Total gain: +43.06%

The closing price of the top three market percent gainers trading near or above $3 on July 22.
Benzinga reports.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1) $BLNE: Beeline Holdings

Total gain: +55.46%

The stock appeared to be moving on no notable news.

2) $FFAI: Faraday Future

Total gain: + 43.9%

The company announced its strategic collaboration with HabitTrade, marking Faraday Future's first step into the Web3 financial ecosystem. The initiative is supported by RWA Group. Benzinga reports.

3) $CDLX: Cardlytics

Total gain: +41.62%

The stock appeared to be moving on no notable news.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars


GOOG: Alphabet
2Q 2025

After Market Close
Estimate: 2.160
Actual: N/A

TSLA: Tesla
2Q 2025

After Market Close
Estimate: 0.350
Actual: N/A

IBM: IBM
2Q 2025

After Market Close
Estimate: 2.650
Actual: N/A

Time (ET) | Report | Period

10:00 am - Existing home sales - June

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- Paul Tudor Jones

Sourced in: “Market Wizards: Interviews with Top Traders”, by Jack D. Schwager, published in 1989.