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.
The poor breadth is a sign the market is growing nervous about several related risks.
Stocks aren't moving on tariff headlines like they used to.
The S&P 500 and Nasdaq Composite are both hovering near record highs as escalating tariffs and a growing debate about monetary policy have done little to shake markets.
Netflix topped second quarter earnings expectations, beating on both the top and bottom lines and raising its full year revenue guidance as the streamer continues to stand out amid a tech-driven market rally.
TSMC, the world's main producer of advanced AI chips, posted record, forecast-beating quarterly profit on Thursday but warned that future income might be hit by U.S. tariffs, though perhaps not until the fourth quarter.
Tech led as US stock futures rose on Tuesday, with a China green-light for Nvidia lifting spirits in the wait for a key consumer inflation print and for big banks to kick off earnings season.
Markets were hit hard at the start of the week (July 7) after President Trump escalated trade actions—threatening steep tariffs on Canada, the EU, and BRICS countries.
Stocks are back near record highs, but a flurry of trade announcements, deals, and extensions kept investors on their toes last week.
Even though short sale volume offers crucial insight into market sentiment, it is often overlooked by traders.