Dow Jones Today: Stock Futures Mixed as Investors Digest Big Tech Earnings, Await News on Trade Deals

Stock futures are mixed Thursday morning as investors react to a flurry of earnings reports from major companies, notably tech giants Tesla and Alphabet, and await new developments related to tariffs.

Futures tied to the S&P 500 and Nasdaq were recently up 0.1% and 0.2%, respectively, while Dow Jones Industrial Average futures slipped 0.6%. Stocks are coming off a winning session on Wednesday, when the S&P 500 and Nasdaq Composite closed at record highs and the Dow finished just shy of its first new high since December, amid investors optimism about progress on trade talks and generally strong corporate earnings.

President Donald Trump has secured trade agreements with Japan, Indonesia and the Philippines in recent days, and government officials have pointed to progress in discussions with the European Union and other leading trade partners. Investors are keeping close tabs on the trade talks ahead of an August 1 deadline for the U.S. to impose hefty tariffs on imports, which analysts have warned could spark inflation and bite into corporate profits.

Tesla (TSLA) shares were down more than 6% in premarket trading after the EV maker reported quarterly numbers that came in below Wall Street’s expectations. Shares of Alphabet (GOOG) climbed nearly 4% after the Google parent released better-than-estimated results and boosted its capital spending plan.

Other mega-cap technology stocks were mostly higher, led by chip giants Nvidia (NVDA) and Broadcom (AVGO), which rose 1% and 2%, respectively, ahead of the bell. Microsoft (MSFT), Amazon (AMZN) and Meta Platforms (META) also gained ground, while Apple (AAPL) fell slightly.

Among other noteworthy post-earnings movers, International Business Machines (IBM), a Dow component, tumbled more than 6% this morning despite posting earnings that topped analysts’ expectations, as revenue in its software business came in light. Shares of Chipotle Mexican Grill (CMG) plunged 12% as the fast-casual chain scaled back its same-store sales outlook. Shares of Dow Inc. (DOW) and American Airlines (AAL) fell 11% and 6%, respectively, while ServiceNow (NOW) stock jumped 8%.

The yield on the 10-year Treasury note, which affects borrowing costs on a wide array of loans, notably mortgages, was at 4.43%, up from 4.39% at yesterday’s close. The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, was up 0.3% at 97.50.

Bitcoin was at $118,500 recently, little changed from yesterday afternoon. The digital currency has gotten a boost from the approval last week of landmark legislation that aims to bring cryptocurrencies more into the financial mainstream.

Gold futures were down 0.9% at $3,365 an ounce, losing ground for the second straight day after hitting their highest level in a month earlier this week. West Texas Intermediate futures, the U.S. crude oil benchmark, rose 1.1% to $65.95 per barrel.