Dow Jones Industrial Average futures rose 0.4% ahead of Wednesday's open after ADP reported a weaker-than-expected private payrolls gain for July. Nvidia led Dow components higher while Apple slipped, and AMD, SpaceX and Arista shares swung on earnings.
Dow Jones Industrial Average futures climbed 0.4% ahead of Wednesday's open, with S&P 500 futures up 0.5% and Nasdaq-100 futures adding 0.3%, as Wall Street digested a weaker-than-expected jobs report.
ADP Report Undershoots Estimates
ADP said private payrolls rose 44,000 in July, below the 75,000 increase economists had expected and down significantly from a 98,000 gain in June. The report serves as a precursor to Friday's jobs release from the Labor Department.
Nvidia Rallies, Apple Slips Among Dow Components
Within the Dow, Nvidia rallied 1.6% in premarket trading, set to extend its winning streak to five sessions. Apple shares edged lower, continuing to trade below their 50-day moving average following last week's earnings-fueled sell-off.
Earnings Swing AMD, SpaceX And Arista
Elsewhere on the stock market today, AMD stock plunged 8% even after the chipmaker edged above Wall Street's targets and predicted $13 billion in current-quarter revenue against estimates of $12.56 billion. SpaceX stock tumbled 12% after revenue spiked 92% to $7.8 billion, with a narrower loss of 9 cents per share, as high capital spending on artificial intelligence and space development weighed on the balance sheet.
Arista shares soared more than 11% after the company beat second-quarter targets and raised its 2026 revenue growth outlook to 40% from 28% amid strong demand for AI cloud-computing networking gear.
Beyond equities, West Texas Intermediate crude rose modestly above $76 a barrel. The 10-year Treasury yield ticked lower to 4.61%. Bitcoin rose near $64,600.
Source: Investor's Business Daily
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