Pre-market briefing Pre-Market Briefing for August 4, 2026
Today at a Glance
Previous Session Recap
All three major New York indexes posted strong gains in the previous session. The S&P 500 rose 1.48%, the Nasdaq gained 2.13%, and the Dow added 1.32%, while the volatility index closed down 1.19% at 15.80. Communications services (2.86%), industrials (1.85%), and consumer discretionary (1.83%) led the advance, while energy (-1.28%) was the lone laggard on the back of a sharp drop in oil prices.
Current Market Tone
Futures are pointing higher across all three indexes, with Nasdaq futures leading at +0.74%. Oil prices plunged on reports that Iran held off on an attack, easing inflation pressures, while Amazon's market cap surpassing $3 trillion and Palantir's 93% revenue growth rekindled expectations for strong AI-related earnings. Risk appetite is tilted in favor of taking on exposure, but the upside momentum itself remains measured. The biggest swing factor today is the back-to-back earnings reports from AMD and SpaceX after the close.
Pre-Market News Roundup
Today's Events
Macro Calendar
This indicator determines whether U.S. manufacturing is expanding or contracting. A reading above the 50 threshold signals expansion, while a print below it indicates contraction. Consensus and prior readings have not been finalized for this round, so the headline number should be read alongside the subcomponents—new orders and employment flows.
This measures the number of positions U.S. employers are looking to fill. Consensus is 7.40 million, versus a prior reading of 7.594 million, implying a modest decline. Fewer openings suggest hiring momentum is cooling, which lifts rate-cut hopes—but an overly steep drop would be read as a growth slowdown risk and weigh on equities instead.
Dividend Watch
Stocks in Focus
Microsoft closed the previous session up 4.93% at $487.65, with the Relative Strength Index climbing to 78 and prices piercing the upper Bollinger Band. The RSI is a momentum indicator that maps recent gains against losses on a 0-to-100 scale, where readings above 70 are typically viewed as short-term overbought. With the upper Bollinger Band breach layered on top, this is a more cautious zone for chasing the move—waiting for a pullback is the safer play.
HSBC Holdings printed an RSI of 70 at $107.86, triggering an overbought signal, and it is also slated to report earnings before today's open. Earnings releases out of overbought zones can attract profit-taking even on solid numbers, so volatility may run wider than usual.
AstraZeneca closed the previous session down 6.88% at $157.97, with the RSI sliding to 32. The 30 threshold is the common line for oversold conditions, leaving room for a technical bounce, but if the trigger of the selloff hasn't been resolved, further downside cannot be ruled out.
Action Plan for Today
Stay composed today, and have a great trading day.
Back to ListDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
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