U.S. equity futures are showing a downward trend before Wednesday's trading session as investors prepare for significant data regarding job openings from July. The Standard & Poor's 500 index has decreased by 0.4%, while the Dow Jones Industrial Average is down by 0.2%. The Nasdaq composite has also experienced a decline of 0.6% in premarket trading.
Correspondingly, Asian and European stock exchanges are reflecting similar bearish sentiments. The anticipated job openings and labor turnover survey report for July is set to be released at 10 am ET, a report investors closely monitor for insights into employment trends within the economy. In pre-market activities, shares of Nvidia Corporation ($NVDA) have fallen by 1.2% following reports indicating that the leading chip manufacturer is under scrutiny for potential antitrust violations regarding its influential role within the artificial intelligence sector.
In stark contrast, Zscaler Inc. ($ZS) has seen a notable decline, dropping by 16% after the cloud security firm provided a disappointing earnings forecast for 2025, failing to meet market expectations. In a positive turnaround, GitLab Inc. ($GTLB) surged by 15% after the company raised its full-year earnings guidance, signaling stronger future performance. In addition to these companies, several other firms are also set to release their latest financial results today.
Dick's Sporting Goods Inc. ($DKS), Dollar Tree Inc. ($DLTR), Hormel Foods Corporation ($HRL), Core & Main Inc. ($CNM), and Ciena Corporation ($CIEN) will announce their earnings before the market opens. Post-market, Copart Inc. ($CPRT), Hewlett Packard Enterprise Company ($HPE), and Casey's General Stores Inc.
($CASY) will present their earnings reports. On the macroeconomic front, the international trade report, detailing goods and services for July, is scheduled for release at 8:30 am, followed by the factory orders report at 10 am. The Beige Book, a collection of economic analysis and business reports compiled by the 12 regional Federal Reserve branches, is expected to be published at 2 pm.
Prior to the market opening, Bitcoin has experienced a decline of 2.5%, currently trading at $56,553. In commodities, West Texas Intermediate crude oil has seen a slight increase of 0.5%, now priced at $70.68 per barrel. The yield on 10-year Treasury notes has dropped by 2.4 basis points to 3.82%, and gold has diminished by 0.2%, standing at $2,518 per ounce..