The Day Ahead: Markets Set for Key Reports and Tariff Updates Today

Market Overview

U.S. equity futures advanced early Monday, with S&P 500 futures up 0.24%, Nasdaq 100 futures gaining 0.29%, and Dow futures rising 0.26%, as traders positioned ahead of key tech earnings and closely watched tariff developments.

Last week, the S&P 500 rose 0.6% and the Nasdaq added 1.5%, both setting fresh all-time highs. The Dow lagged slightly, ending the week marginally lower.

Trade policy remains a market driver. U.S. Commerce Secretary Howard Lutnick reaffirmed August 1 as the “hard deadline” for new tariffs, although discussions may continue thereafter.

Market participants are also focused on the earnings season, particularly the upcoming reports from Alphabet and Tesla — the first among the Magnificent Seven expected to fuel Q2 earnings growth.

FactSet reports that 86% of S&P 500 firms that have reported so far have beaten estimates.

Key Economic Releases

At 14:00 GMT, the Conference Board’s June Leading Economic Index (LEI) will be released. As a forward-looking composite indicator, the LEI may provide insights into growth expectations and influence short-term rate forecasts if it diverges from consensus trends.

Notable Earnings

Before the open:

• Verizon (VZ): $1.19 EPS expected
• Domino’s Pizza (DPZ): $3.94
• Cleveland-Cliffs (CLF): -$0.71
• Roper (ROP): $4.83

After the close:

• NXP Semiconductors (NXPI): $2.68
• Steel Dynamics (STLD): $2.26
• W.R. Berkley (WRB): $1.03
• Medpace (MEDP): $2.98
• Others reporting include AGYS, ARE, BOKF, CALX, CCK, ELS, RLI, WTFC, and ZION.

Technical Outlook

S&P 500 E-mini futures last traded at 6,353.00, hovering near the July high of 6,357.00. Resistance is located at 6,357.00 followed by psychological round levels near 6,400. Support lies at 6,241.00, then 5,959.00. The 50-day moving average sits at 6,098.30 and the 200-day at 6,000.55.

Nasdaq 100 futures last traded at 23,296.25, just under the recent high of 23,320.75. Resistance levels are 23,320.75 and 23,500. Support is found at 22,803.00, followed by 22,582.00. The 50-day and 200-day moving averages are 22,149.90 and 21,366.72, respectively.

Dow futures last traded at 44,664. Resistance is near 45,043 and 45,177. Support sits at 43,973 and deeper at 42,088. The 200-day moving average is 43,569.00 and the 50-day moving average is 43,349.90 .

Outlook

With equity indexes at record highs and earnings season entering a critical stretch, market sentiment hinges on megacap tech results and geopolitical trade headlines.

Strong showings from Alphabet or Tesla later this week could validate bullish valuations, while a weak LEI print may prompt dovish rate repricing. Momentum remains intact, but headline risk is elevated.

More Information in our Economic Calendar.