U.S. Stock Market Update: Futures Rise Ahead of Tech Earnings and Trade Deadline

As investors enter a new trading week, U.S. stock futures displayed positive momentum on Monday, July 21, 2025, buoyed by optimism surrounding upcoming major technology earnings and trade developments. The Dow Jones Industrial Average futures increased by 94 points, marking a rise of 0.2%, while the S&P 500 and Nasdaq-100 futures also saw a similar uptick of 0.2% each, according to data from CNBC.

This upward trend follows a strong performance last week, with both the S&P 500 and Nasdaq reaching all-time highs, closing the week with gains of 0.6% and 1.5%, respectively. The Dow, however, ended slightly lower. These developments come as the earnings season gains momentum, with over 86% of the 59 S&P 500 companies reporting thus far exceeding analyst expectations, as highlighted in a report by FactSet.

Mark Malek, Chief Investment Officer at Siebert Financial, emphasized the significance of this earnings season, stating, "We are at an all-time high for the S&P 500 right at the beginning of earnings season. If we can get through this earnings season with not too many major failures, I think that is really, really important at this point if we want to continue this upward momentum that we have in the market."

The upcoming week is particularly critical as tech giants Alphabet and Tesla, among the so-called 'Magnificent Seven' companies, are set to report their earnings. FactSet's Senior Earnings Analyst John Butters projects that these tech leaders could drive substantial earnings growth, forecasting a 14% increase for the Magnificent Seven compared to a modest 3.4% growth for the remaining S&P 500 companies.

On the trade front, the White House reiterated its stance on tariffs, with U.S. Commerce Secretary Howard Lutnick declaring August 1 as a "hard deadline" for countries to start paying tariffs to the United States. "Nothing stops countries from talking to us after August 1, but they’re going to start paying the tariffs on August 1," Lutnick noted during an interview on CBS News. This announcement underscores the ongoing tension in international trade relations and its potential impact on market stability.

In corporate news, Verizon shares surged over 4% in pre-market trading after the telecom giant exceeded earnings expectations for the second quarter, reporting adjusted earnings of $1.22 per share on revenues of $34.5 billion, surpassing predictions from analysts at LSEG. Conversely, shares of Domino's Pizza experienced a 3% increase following their quarterly results, which revealed a 3.4% rise in U.S. same-store sales, although their earnings fell short of analyst estimates.

As the trading day progresses, investors will be closely monitoring economic indicators, with the June reading for leading indicators set to be released on Monday at 10 a.m. ET. This data provides predictive metrics that could influence market sentiment moving forward.

Overall, the outlook for the U.S. stock market remains cautiously optimistic, with investors keenly watching both earnings reports and trade developments that could significantly impact market dynamics in the coming weeks.