Wall Street Braces for Tariff Talks and Earnings Surprises

Wall Street futures remained stable as investors awaited clarity on U.S. trade talks with key partners. Market performance was buoyed by strong second-quarter earnings reports, although companies like Tesla and General Motors faced setbacks. Attention is now on the Federal Reserve's upcoming meeting amid tariff concerns.

Wall Street futures maintained a steady course on Friday, as investors paused following record-breaking sessions for the S&P 500 and Nasdaq. The market eagerly anticipated updates on U.S. trade negotiations ahead of the August 1 tariff deadline.

As of 06:50 a.m. ET, major indices were slightly up, with the Dow E-minis climbing 68 points. Positive movements were observed in S&P 500 E-minis and Nasdaq 100 E-minis, displaying resilience despite recent downturns. The Dow, although having fallen 0.7% the previous day, hovered near record highs last seen in December.

Multinational trade discussions, particularly those involving Japan, Indonesia, and the Philippines, injected optimism into the markets. Potential agreements with the European Union and South Korea bolstered sentiments, with analysts anticipating a resolution before tariff implementations. Investor focus shifts to the Federal Reserve meeting next week, amid ongoing political pressures for interest rate reductions.

(With inputs from agencies.)