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Pre-Market Performance
U.S. equity futures were mixed, with technology leading while blue-chip futures lagged. Nasdaq 100 futures rose 226.3 points, or 0.77%, to 29,694.8. S&P 500 futures added 14.3 points, or 0.19%, to 7,543.0, while Dow Jones futures slipped 41.0 points, or 0.08%, to 52,583.0.
European markets were mixed: the FTSE 100 traded at 10,435.70, down 53.34 points, or 0.51%, after moving between 10,397.48 and 10,539.47. France’s CAC 40 rose 34.93 points, or 0.42%, to 8,287.59, while Germany’s DAX advanced 59.88 points, or 0.24%, to 24,957.33.
Commodities remained a central focus after renewed Gulf tensions. Brent crude was near $78.66 per barrel, up $0.64; in the prior U.S. session Brent settled at $78.02, up 5.2%, and WTI crude settled at $73.52, up 4.4%. Spot gold recently traded around $4,084.19 per ounce, down 0.52%, while U.S. gold futures were around $4,085.00, down 1.45%. The U.S. dollar index was little changed around 100.96.
Hot News
- Gulf hostilities keep oil risk premium elevated: Renewed U.S.-Iran strikes kept energy markets volatile, with investors focused on the Strait of Hormuz and the potential inflation impact of higher crude prices. The oil move is supporting energy-linked assets but weighing on rate-sensitive and fuel-cost-exposed areas of the market.
- Chip rebound offsets geopolitical pressure: Global risk appetite showed signs of stabilization as semiconductor shares recovered from recent selling, helping explain stronger Nasdaq 100 futures performance relative to the Dow.
- Wednesday’s Wall Street weakness leaves a cautious backdrop: The prior U.S. session saw pressure broaden as crude surged and geopolitical risk returned. The Dow lagged notably, while technology and selected communication-services names helped limit losses in parts of the market.
- Dollar holds firm as energy shock revives inflation concern: The dollar remained resilient as traders weighed safe-haven demand and the inflationary implications of higher oil; gold softened amid firmer rate expectations and dollar strength.
U.S. Stock Focus
- PepsiCo: revenue beats, EPS misses slightly: PepsiCo reported second-quarter net revenue of $24.2 billion, above the $23.9 billion expected, while adjusted EPS of $2.18 was slightly below the $2.19 forecast. North American snack volumes were flat and beverage volumes fell 4%, but international demand helped overall snack volumes rise 3% and beverage volumes rise 2%.
- Levi Strauss: shares fall despite Q2 beat: Levi posted adjusted EPS of $0.28, beating the $0.24 estimate, on revenue of $1.56 billion versus the $1.52 billion consensus. The stock fell about 5% after hours as investors focused on full-year adjusted EPS guidance of $1.46 to $1.52, with the midpoint slightly below consensus.
- AZZ: beat-and-raise quarter drives after-hours jump: AZZ reported fiscal first-quarter adjusted EPS of $1.85, ahead of the $1.69 estimate, while revenue of $448.5 million topped expectations of $434.53 million. Management raised fiscal 2027 adjusted EPS guidance to $6.75 to $7.15, and shares rose about 7% to 9% after hours.
- PriceSmart: revenue beats, EPS misses: PriceSmart reported fiscal third-quarter EPS of $1.28, below the $1.32 forecast, while revenue of $1.48 billion beat the $1.42 billion estimate, showing stronger top-line growth but softer profitability versus consensus.
- Honeywell Technologies: profit guidance lifted after reverse split: Honeywell Technologies raised second-half and full-year 2026 profit targets following its one-for-two reverse stock split, as investors assess the company’s post-spin profile after the separation of Honeywell Aerospace.
- Nvidia: reported $500 million Firmus investment extends AI infrastructure push: Nvidia reportedly committed about A$720 million, or roughly $500 million, to Australian cloud infrastructure startup Firmus Technologies’ $2 billion equity raise, which would make Nvidia the largest investor ahead of Firmus’ planned ASX listing.
- Ampco-Pittsburgh: orders update sends shares higher: Ampco-Pittsburgh shares rose about 12% in after-hours trading after reporting first-half 2026 customer order activity of approximately $268 million, up 32% from $204 million a year earlier, signaling stronger demand for the specialty metals manufacturer.
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