U.S. stock futures rose slightly before the market opened on Wednesday (30th) , as the market awaited the after-hours earnings reports from Meta and Microsoft, as well as the outcome of the Federal Reserve's interest rate meeting. Earlier releases of stronger-than-expected U.S. GDP and ADF employment data boosted the dollar.
News
The probability of the Federal Reserve keeping interest rates unchanged in September increases after the release of US ADP and GDP data
According to CME's "Fed Watch," the probability of the Fed keeping interest rates unchanged in July is 97.9% (same as before the data was released), with a 25 basis point rate cut probability of 2.1%. The probability of the Fed keeping interest rates unchanged in September is 37.9% (down from 34% before the data was released), with a cumulative probability of 25 basis point rate cuts of 60.9% and a cumulative probability of 50 basis point rate cuts of 1.3%.
The annualized growth rate of core PCE in the second quarter of the United States was 2.5% , higher than expected.
Glodon: The initial annualized quarterly rate of the U.S. core PCE price index in the second quarter was 2.5%, in line with expectations of 2.3% and the previous value of 3.5%.
US GDP in the second quarter was 3%, higher than expected
Glodon: The initial estimate of the annualized quarterly rate of real GDP in the second quarter of the United States was 3%, higher than the expected 2.4% and the previous value of -0.5%.
July 's " small non-farm " employment data exceeded expectations
Glodon: U.S. ADP employment increased by 104,000 in July, the largest increase since March, with an estimated increase of 75,000 and a previous value of a decrease of 33,000.
Pre-market stocks
Software giant Microsoft (NASDAQ: MSFT ) rose 0.2%. The company is about to release quarterly results after the market close, and its artificial intelligence plans will be closely scrutinized.
Facebook's parent company Meta Platforms (NASDAQ: META ) rose 0.9%. The company is about to announce its earnings, and CEO Mark Zuckerberg has listed large-scale investment in artificial intelligence as a future strategic priority.
Payment services provider Visa (NYSE: V ) fell 2.4% after the company's third-quarter results beat expectations but maintained its full-year outlook.
Starbucks (NASDAQ: SBUX ) rose 5.4% after the coffee chain's third-quarter net income beat expectations, showing progress in its transformation plan.
Hershey (NYSE: HSY ) rose 3.1% after the candy maker 's second-quarter profit beat expectations, but lowered its full-year profit guidance due to tariff costs.
Humana (NYSE: HUM ) rose 9.6% after the health insurer reported better-than-expected second-quarter results and raised its full-year revenue forecast.
Online marketplace Etsy (NASDAQ: ETSY ) rose 5.3% after its second-quarter revenue beat expectations, benefiting from more personalized marketing and emerging artificial intelligence technologies.
VF Corporation (NYSE: VFC ) surged 19.6% after the Vans parent company's first-quarter revenue beat expectations, boosted by recovering demand for apparel and footwear.
Peloton (NASDAQ: PTON ) rose 8.4% after UBS upgraded its rating to "buy" from "neutral," citing revenue growth and further cost cuts.
SoFi Technologies (NASDAQ: SOFI ) fell 7.3% after the financial technology company said it would sell $1.5 billion in stock to support business operations and enhance financial flexibility.
Qorvo (NASDAQ: QRVO ) surged 9% after the connectivity and power solutions provider reported better-than-expected first-quarter earnings and issued an upbeat forecast.
Tobacco company Altria Group (NYSE: MO ) beat Wall Street expectations for second-quarter revenue and profit, citing strong demand for its nicotine pouches.
Kraft Heinz Co (NASDAQ: KHC ) rose 0.3% after reporting better-than-expected second-quarter net sales and earnings, helped by a rebound in demand for its food and condiments as U.S. consumers tried to stretch their household budgets. Rising inflation and economic uncertainty are driving people to cook at home rather than eat out, which is boosting demand for some of Kraft Heinz's products. However, quarterly sales still fell 2.7%.
Check Point Software Technologies Ltd (NASDAQ: CHKP ) fell 6% despite better-than-expected second-quarter revenue and earnings. However, the company's CEO said he does not want to sell the company, preferring to make his own strategic acquisitions and continue to grow.
Chinese concept stocks
KraneShares CSI China Internet ETF (NYSE: KWEB ) rose%.
New Oriental Education & Technology Group (NYSE: EDU ) shares fell 10% after delivering mixed quarterly results. Earnings per share of $0.61 significantly beat analysts' expectations of $0.29. Revenue rose 9.4% year-over-year to $1.24 billion, beating the consensus estimate of $1.19 billion. However, the company reported an operating loss of $8.7 million, compared to operating income of $10.5 million in the same period last year.
Luckin Coffee (OTC: LKNCY ) rose 3.58% after its second-quarter net revenue reached RMB 12.36 billion, a year-on-year increase of 47%, exceeding analysts' average estimate of RMB 11.16 billion. Net profit reached RMB 1.25 billion, a year-on-year increase of 44%.
Other markets
Most European stock markets rose.
Asia-Pacific stock markets were mixed.
The US dollar index soared 0.52% to 99.43, thanks to the US second-quarter GDP exceeding expectations and ADP new employment also exceeding expectations.
Spot gold prices fell, down $12.9 to $3,313.61.
The price of Bitcoin fell 0.7% to $117,759.
London Brent crude oil and US WTI crude oil futures prices rose slightly.
financial reports
Pre-market: Teva Pharma Industries Ltd ADR (NYSE: TEVA ), GE HealthCare Technologies Inc (NASDAQ: GEHC ), Wingstop Inc (NASDAQ: WING ), GSK plc DRC (NYSE: GSK ), HSBC Holdings (NYSE: HSBC ), Harley-Davidson Inc (NYSE: HOG ), Bunge (NYSE: BG ), UMC (NYSE: UMC ), Garmin Ltd (NYSE: GRMN ), Evercore Partners Inc (NYSE: EVR ).
After-hours trading: Meta Platforms Inc (NASDAQ: META ), Microsoft Corporation (NASDAQ: MSFT ), Robinhood Markets Inc (NASDAQ: HOOD ), Qualcomm Incorporated (NASDAQ: QCOM ), Carvana Co (NYSE: CVNA ), Under Armour Inc A (NYSE: UAA ), Ford Motor Company (NYSE: F ), Lam Research Inc (NASDAQ: LRCX ), MGM Resorts International (NYSE: MGM ), eBay (NASDAQ: EBAY ), Western Digital (NASDAQ: WDC ), F5 Networks Inc (NASDAQ: FFIV ), NETGEAR (NASDAQ: NTGR ).
For all of today's earnings reports, please visit the Investing.com earnings calendar .
Economic data and events
8:15 PM Beijing Time (8:15 AM ET)
US ADP employment figures
8:30 PM Beijing Time (8:30 AM ET)
U.S. real GDP annualized quarterly rate in the second quarter
US GDP deflator in the second quarter
U.S. core PCE price index quarterly rate in the second quarter
9:45 PM Beijing Time (9:45 AM ET)
U.S. seasonally adjusted existing home sales annualized total and monthly rate
02:00 AM Beijing time the next day (14:00 EST)
Federal Reserve interest rate decision
Federal Reserve FOMC Monetary Policy Statement
02:30 AM Beijing time the next day (14:30 EST)
Federal Reserve FOMC press conference