Tonight’s Highlights | U.S. Futures Mixed Pre-Market; Trump to Visit Fed

U.S. stock futures showed mixed performance pre-market on Thursday (July 24). As of writing, Dow Jones futures fell 0.72%, S&P 500 futures rose 0.01%, and Nasdaq 100 futures gained 0.19%.

 

The prior day, the S&P 500 hit a record high for the 12th time this year, Nasdaq Composite closed above 21,000 for the first time, and Dow neared its peak.  

Two of the “Magnificent Seven” reported earnings. Google beat expectations on both counts, with A-class shares up 3.6% and C-class up 3.5% as of writing.

 

Tesla dropped 6.5%, with Musk warning of tough quarters ahead. IBM fell over 6% pre-market due to underwhelming Q2 software revenue, while UnitedHealth slid nearly 4% amid U.S. DOJ civil and criminal probes, pressuring Dow futures.  

 

Earlier, the White House released Trump’s schedule, confirming his visit to the Fed at 4 PM ET Thursday—coinciding with market close—making him the fourth U.S. president to do so.

 

Beyond potential “renovation gate” talks, the timing is sensitive, with less than a week until the Fed’s July rate decision next Wednesday.  

 

Recently, Trump has repeatedly targeted Fed Chair Powell. On Tuesday, he demanded swift rate cuts, calling Powell “utterly foolish” and hinting at his imminent exit.  

Company News  

Alphabet CEO: AI Business Full Steam Ahead, Tokens Doubled Since May  

 

Alphabet CEO Sundar Pichai said on the earnings call that in May, the company reported 4.8 trillion monthly Tokens processed, now doubled to 9.8 trillion. He added that Gemini app has over 450 million monthly active users, with daily requests up over 50% from Q1.  

 

Tesla June Europe Registrations Down 22.9% for Sixth Straight Month  

 

The European Automobile Manufacturers’ Association reported on July 24 that Tesla’s June Europe registrations fell 22.9% to 34,781 vehicles from 45,087 last year, marking six consecutive months of decline.  

 

Analysts: Blackwell to Dominate 80%+ of Nvidia’s 2025 High-End GPU Shipments, Liquid Cooling Rises  

 

TrendForce’s latest survey shows the Server market stabilizing, with ODMs focusing on AI Servers. Since Q2, Blackwell platforms like GB200 Rack and HGX B200 have ramped up, while B300/GB300 series enter sampling.

 

TrendForce estimates Blackwell will account for over 80% of Nvidia’s high-end GPU shipments in 2025, with liquid cooling adoption rising as GB200/GB300 Rack expands.  

 

Cocoa Prices High, U.S. Chocolate Brands Hike Prices  

 

Climate-driven shortages in Ghana and Côte d’Ivoire have pushed global cocoa futures up 121% in two years, though down from December’s $11,984/ton peak to $7,380/ton Wednesday, per the International Cocoa Organization.

 

Rising costs hit chocolate production, prompting price hikes.

 

NielsenIQ data shows U.S. chocolate bar prices rose 41% from $2.43 in July 2021 to $3.45 last week. Nestlé, Ferrero, and Hershey (up double digits) have raised prices recently.