US pre-open: Futures lower ahead of Q2 earnings, Powell speech
By Iain Gilbert
Date: Tuesday 22 Jul 2025
(Sharecast News) - Wall Street futures were in the red ahead of the bell on Tuesday as traders strapped in for quarterly earnings reports from a number of the country's biggest companies.
As of 1230 BST, Dow Jones futures were down 0.02%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.09% and 0.22% weaker, respectively.
The Dow closed 19.12 points lower on Monday, well below the blue-chip's highs for the day, though the S&P 500 and Nasdaq still managed to eke out new record highs.
Corporate earnings will likely take centre stage on Tuesday, with quarterly earnings due from the likes of Coca-Cola, Philip Morris, Chubb, Lockheed Martin, General Motors and Halliburton. Traders will also await quarterly numbers from Google parent company Alphabet and electric carmaker Tesla on Wednesday, with the pair set to kick off highly anticipated results from the so-called "Magnificent Seven".
Outside of earnings, Tuesday's other primary point of interest will be a speech from under-fire Federal Reserve chairman Jerome Powell at 1330 BST.
Rostro's Joshua Mahony said: "Amid calls from Trump for Powell to cut interest rates, the pathway to his removal in [the] absence of a resignation clearly revolves around claims of financial misappropriation in relation to the $2.5bn Fed building renovation. With Scott Bessent stating that the formal process for determining the next Fed chair is already underway, we are likely to either see Powell pushed out or a prolonged shadow chair scenario play out.
"Notably, Bessant's call for a probe into the 'entire Federal Reserve institution' would have you believe that there is more to this than simply wishing the central bank would cut rates despite the obvious justification for patience. However, markets would likely see beyond such pretext, with the perceived stability of the US coming into question if Trump replaces Powell with a yes man (or woman)."
On the macro front, the Richmond Federal Reserve's July manufacturing index will be published at 1500 BST.
Reporting by Iain Gilbert at Sharecast.com
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN