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U.S. equity futures are pointing to a mildly positive open on Wednesday, suggesting stocks could regain ground after Tuesday’s retreat.

Investor sentiment appears to be buoyed by a string of better-than-expected earnings reports. McDonald’s (NYSE:MCD) shares are rallying 4.0% in premarket trading after the company topped analyst expectations on both revenue and profit for the second quarter.

Shopify (NASDAQ:SHOP) is also seeing notable early gains after the e-commerce platform delivered second-quarter revenue that beat forecasts and shared an encouraging outlook for the current quarter.

Disney (NYSE:DIS) is another name in focus, rising in the pre-market after reporting stronger-than-expected fiscal Q3 results, reinforcing optimism around the entertainment giant’s performance.

However, not all earnings updates were positive. Super Micro Computer (NASDAQ:SMCI) is under pressure following fiscal Q4 results that missed analyst targets and a soft outlook for the first quarter.

Snap (NYSE:SNAP) is also facing premarket weakness after posting second-quarter revenue that came in below consensus estimates.

With no major economic reports scheduled for release, overall market activity could be lighter than usual, as investors await further catalysts.

On Tuesday, Wall Street saw early gains evaporate as the session wore on. After extending Monday’s momentum early in the day, the major indexes reversed course and ended in the red.

By the close, the Nasdaq had declined 137.03 points, or 0.7%, to 20,916.55, while the S&P 500 dropped 30.75 points, or 0.5%, to 6,299.19. The Dow Jones Industrial Average shed 61.90 points, or 0.1%, to finish at 44,111.74.

The market’s decline may have been influenced by renewed trade tensions after former President Donald Trump hinted at fresh tariffs.

In an interview on CNBC’s Squawk Box, Trump said he will be announcing new tariffs on semiconductors and chips as soon as next week, “because we want them made in the United States.”

He also mentioned that potential tariffs on imported pharmaceuticals could reach “as high as 250 percent.”

Adding to the cautious mood, a report from the Institute for Supply Management showed that growth in the U.S. services sector cooled unexpectedly in July. The ISM Services PMI dipped to 50.1 from 50.8 in June, falling short of expectations for a rise to 51.5. While the index remains in expansion territory, the slowdown surprised economists.

Despite the broader market pullback, investors rewarded some standout earnings. Palantir (NYSE:PLTR) surged 7.9% after the company reported a sharp increase in sales.

The company attributed the jump to growing demand for artificial intelligence services, noting that its sales jumped almost 50 percent in the second quarter amid robust demand for artificial intelligence services.

Several sectors bucked the downtrend. Oil service stocks were standouts, pushing the Philadelphia Oil Service Index up 3.5%. Gold mining names also advanced, tracking a modest rise in gold prices, which helped lift the NYSE Arca Gold Bugs Index by 2.9%.

Housing and transportation stocks saw gains as well, while utilities and semiconductor shares were among the weakest performers of the session.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

European equities moved cautiously higher on Wednesday, overcoming disappointing German factory data and renewed tariff threats from former U.S. President Donald Trump targeting the pharmaceutical and semiconductor industries.

Germany’s new factory orders dropped by 1.0% in June compared to the previous month, defying forecasts for a 1.0% increase and marking a deeper decline than May’s 0.8% slide, according to Destatis.

Despite the downbeat economic signal, major European indices saw modest gains. Germany’s DAX edged up 0.1%, while France’s CAC 40 and the UK’s FTSE 100 both advanced 0.3%.

Earnings Movers and Corporate Headlines

Shares of ABN AMRO (EU:ABN) sank 7.5% after the Dutch bank unveiled a smaller-than-anticipated share buyback and reported weaker lending margins in Q2.

Commodities giant Glencore (LSE:GLEN) fell 3.1% in London trading as it reported a 14% drop in first-half adjusted EBITDA and abandoned a proposal to shift its main listing out of the UK.

Legal & General (LSE:LGEN) declined 2.5%, despite the insurer and asset manager posting better-than-expected earnings for the first half.

In contrast, German property group Vonovia (TG:VNA) surged 4% following a double-digit increase in H1 earnings and an upward revision to its 2025 EBT forecast.

Wind turbine manufacturer Nordex Group (TG:NDX1) rose 2.6% after landing a 51.7 MW order from TEUT Energieprojekte GmbH for a project in Brandenburg.

Healthcare conglomerate Fresenius (TG:FME) gained 1.6% after beating Q2 expectations and raising its full-year revenue outlook.

On the downside, Bayer (TG:BAYN) slipped 4.2% after posting a wider second-quarter loss amid a challenging operating environment.

Zalando (TG:ZAL) tumbled 4.6% despite solid Q2 results and upgraded 2025 guidance, as investors appeared unimpressed with the company’s sales growth.

Meanwhile, Commerzbank (TG:CBK) lost 1% after reporting a drop in quarterly profits.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Lancashire Holdings Limited (LSE:LRE) on Wednesday boosted its full-year return on equity (ROE) guidance after reporting first-half earnings that surpassed market forecasts by 24%.

The insurer lifted its 2025 ROE projection from the mid-teen range to the high teens, based on the assumption that the second half will see loss conditions similar to those in 2024, when it faced total major losses of approximately $169 million.

Profit before tax exceeded expectations by 27%, while profit after tax outpaced consensus by 24%.

Lancashire’s robust results were mainly attributed to stronger underwriting margins and, to a lesser degree, enhanced investment returns.

The undiscounted combined operating ratio came in 1.3 percentage points better than anticipated, and net investment returns were 8% above market estimates.

Despite the encouraging earnings, gross premiums written lagged consensus by 2.2%, and insurance revenue fell 0.6% short of expectations. However, the insurance service result exceeded consensus by 39%.

Diluted book value per share was 2% higher than expected, while the interim dividend per share remained steady at 7.5 cents.

The upgrade in guidance ahead of the peak U.S. windstorm season signals confidence in Lancashire’s underwriting discipline, which may bolster shares that have seen weakness earlier this year.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Quilter (LSE:QLT) delivered robust first-half results on Wednesday, outperforming expectations on net inflows and earnings, while confirming it will reassess its capital requirements following the conclusion of its ongoing advice review.

The UK-based wealth manager recorded net inflows of £4.5 billion ($6 billion) during the period, surpassing the highest estimates from analysts, according to Jefferies.

Jefferies analysts described this as “a very strong showing, with a marked improvement in both Affluent and HNW segments.”

Assets under management and administration (AUMA) stood at £126.3 billion, approximately 4% above consensus estimates and close to the upper range forecast of £128 billion.

The analysts added, “Higher AUMA and lower costs than consensus will likely lift forecasts and we would expect a positive reaction from the market.”

Adjusted operating profit reached £100 million, beating expectations by 6%, while earnings per share climbed to 5.4 pence, exceeding consensus by 15%.

Quilter is currently reviewing its historical advice services in response to increased regulatory focus on charging practices across the industry.

The company stated on Wednesday that the provision it had already set aside for this matter “remains appropriate.”

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Videndum Plc (LSE:VID) revealed its financial results for the first half of 2025 on Wednesday, highlighting ongoing headwinds in its core markets alongside a challenging debt situation. The company’s leadership is actively working to manage its elevated debt levels as trading conditions remain difficult.

The imaging and broadcast equipment manufacturer reported an operating loss of £7.0 million in the first six months, marking an improvement compared to the £29.2 million loss recorded in the latter half of 2024.

Revenues totaled £115 million, reflecting a 9% decline from the second half of last year and a 23% drop year-on-year on a constant currency basis.

Videndum’s net debt increased by 17% year-over-year to £137.7 million but was only slightly higher—by £4.7 million—than the amount at the end of 2024.

In April 2025, the company adjusted the covenants tied to its revolving credit facility and successfully complied with June’s requirements. However, it still faces the need to refinance or negotiate a deleveraging plan within the next few months.

Breaking down by segments, Media Solutions generated £55.8 million in sales with an EBITA of £1.6 million, impacted by uncertainty over U.S. tariffs. Production Solutions posted £37.1 million in sales but recorded an EBITA loss of £1.4 million, while Creative Solutions reported £22.5 million in sales and an EBITA loss of £0.9 million.

Videndum pointed to several difficulties including the effect of U.S. tariff policies, recent wildfires in Los Angeles, and broader market unpredictability. The second quarter proved particularly challenging, reducing visibility for the remainder of 2025 and leading management to withhold full-year guidance.

Nonetheless, the company noted some encouraging signs such as growing order backlogs, improved market sentiment in select areas, and strong pent-up demand.

Cost-saving initiatives delivered £6 million in benefits during H1, with management targeting an additional £9 million for the second half and aiming for a full-year annualized savings run-rate near £19 million by year-end.

Videndum also flagged upcoming product launches from its Teradek and Manfrotto brands. Still, analysts caution that consensus full-year EBITA estimates of £8.8 million for 2025 may come under pressure following this update.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Gold prices eased slightly on Wednesday, pausing after four days of gains as investors absorbed disappointing U.S. economic figures and considered the possible Fed board appointment by President Donald Trump.

At 04:30 ET (08:30 GMT), Spot Gold fell 0.4% to $3,366.50 per ounce, while December Gold Futures also slipped 0.4% to $3,420.72 an ounce.

After rising steadily for four sessions in a row, gold posted modest gains this week following a sharp 2% increase on Friday.

Gold bolstered by expectations of Fed rate cuts

The precious metal has recently found support amid growing expectations that the Federal Reserve may implement interest rate cuts as soon as next month. A string of weak economic data points suggests the Trump administration’s unpredictable trade policies are starting to impact the economy.

On Tuesday, the Institute for Supply Management’s purchasing managers’ index (PMI) for services fell to 50.1 in July, missing the forecast of 51.5 and signaling a near standstill in activity, further fueling worries over a slowdown in U.S. growth.

This followed Friday’s disappointing payroll report, which showed fewer jobs created than expected and extensive revisions to previous data, pushing the unemployment rate to 4.2%.

Currently, the likelihood of a Fed rate cut in September stands just under 90%, lending support to gold since lower interest rates reduce the cost of holding non-yielding bullion.

Meanwhile, markets are also watching President Trump’s upcoming decision on who will fill the Federal Reserve board vacancy left by Governor Adriana Kugler, who plans to resign on August 8.

Central bank gold purchases ease in second quarter

According to the World Gold Council, central banks increased their official gold reserves by a net 22 tonnes in June, with Uzbekistan leading purchases by adding 9 tonnes, ending a four-month streak of sales.

In the second quarter overall, central banks added 166 tonnes to reserves—still a 33% decline from the previous quarter.

“This marks the second consecutive quarter during which demand has slowed, with gold’s 30% price rally this year likely contributing to the move. Despite the slowdown, central banks are likely to continue adding gold to their reserves given the still-uncertain economic environment and the drive to diversify away from the U.S. dollar,” said analysts at ING in a note.

Other metals show mixed performance

Platinum Futures climbed 0.8% to $1,340.95 an ounce, while Silver Futures dipped slightly to $37.810 per ounce.

On the copper front, benchmark London Metal Exchange futures rose 0.5% to $9,687.40 a ton, with U.S. Copper Futures also up 0.5% to $4.4080 a pound.

Last week, U.S. copper prices tumbled 20% but have since traded mostly sideways after President Trump excluded refined copper from his planned 50% import tariff on the metal.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Oil prices saw a modest rebound during Wednesday’s Asian trading session, recovering slightly from a five-week low reached in the previous day’s session. The prospect of stricter U.S. sanctions targeting purchasers of Russian crude provided some upward momentum.

However, gains remained limited as concerns persisted over increased production from OPEC+ and subdued global demand, keeping the recovery tentative.

Brent crude futures for October rose by 0.5%, reaching $68.00 per barrel, while West Texas Intermediate (WTI) futures increased 0.5% to $64.53 per barrel as of 21:50 ET (01:50 GMT).

The market was further supported by data from the American Petroleum Institute (API), which revealed a much larger-than-expected drawdown of 4.2 million barrels in U.S. oil inventories last week, significantly surpassing forecasts of a 1.8 million barrel decline.

Trump Continues to Target India with Tariff Threats Over Russian Oil Purchases

U.S. President Donald Trump renewed his warnings on Tuesday, threatening additional trade tariffs on India due to its ongoing imports of Russian oil. This comes after Washington imposed 25% reciprocal tariffs on India last week.

Trump criticized New Delhi’s continued Russian oil purchases, arguing they finance Russia’s conflict with Ukraine. India has dismissed these criticisms and reportedly plans to maintain its Russian oil imports in the short term. The country depends heavily on crude imports, sourcing roughly 80% of its oil needs from abroad.

Trump also signaled potential tariff hikes against China, another significant buyer of Russian crude.

Should India and China reduce or halt their Russian oil purchases, it would tighten global oil supply, lending some price support.

Meanwhile, signs of possible easing in the Russia-Ukraine tensions have emerged. Bloomberg reported that Moscow is considering measures such as pausing air strikes to avoid triggering further U.S. sanctions. U.S. Special Envoy to the Middle East Steve Witkoff is scheduled to visit Moscow this week to discuss the situation.

Oil Faces Pressure from Oversupply and Demand Concerns

Despite Wednesday’s modest gains, oil prices have faced sharp declines over recent sessions.

The downward trend follows OPEC+’s decision to raise production by 547,000 barrels per day starting in September.

The group has consistently ramped up output this year, stoking worries about an oversupplied market in the latter half of 2025.

Additionally, a series of disappointing economic indicators from the U.S. and China released last week have intensified fears of sluggish growth and weakening demand among the world’s largest oil consumers.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

The U.S. dollar moved within a tight range on Wednesday as markets focused on who President Donald Trump will nominate to fill a seat on the Federal Reserve’s Board of Governors.

As of 03:50 ET (07:50 GMT), the U.S. Dollar Index, which tracks the greenback’s performance against six major currencies, was down 0.1% at 98.527. The dollar has been relatively quiet following its sharpest single-day drop in nearly four months last Friday, driven by a weaker-than-expected U.S. jobs report.

Spotlight on Trump’s Pick for the Fed

The dollar has struggled to find direction since last week’s labor data disappointment. Adding to the cautious sentiment, figures released Tuesday revealed that U.S. services sector activity stagnated in July, even as input prices surged at their fastest pace in nearly three years — another sign that tariffs may be weighing on the economy.

Traders are maintaining their bets on a Federal Reserve rate cut in September, with futures pricing in around a 90% probability and projecting roughly 56 basis points of easing by year-end.

With few major economic indicators due Wednesday, all eyes are on the White House as markets await Trump’s nomination to replace outgoing Fed board member Adriana Kugler. The president said on Tuesday that he plans to name a candidate before the end of the week.

“Trump’s open attacks on the Bureau of Labor Statistics over payroll revisions have not had much market impact, but it will be interesting to see whether the selected Fed chair candidate echoes that narrative,” analysts at ING wrote in a note.
“If so, it could ignite fears of a disconnect between Fed policy and official data – a scenario we see as decidedly dollar-negative.”

Euro Inches Higher; Pound Cautious Before BoE

In Europe, the euro ticked up, with EUR/USD climbing to 1.1576 despite a disappointing German industrial orders report. Orders unexpectedly declined by 1% in June, marking a second consecutive monthly drop due to weaker demand from overseas. Economists had forecast a 1.0% increase.

Later in the session, investors will watch for Eurozone retail sales data for June, with expectations for a 0.4% monthly rebound after May’s 0.7% decline.

“EUR/USD remains almost entirely driven by the dollar leg, and we continue to see decent upside potential mostly on the back of the Fed’s dovish repricing rather than any supportive eurozone story,” said ING.

Meanwhile, GBP/USD dipped slightly to 1.3295, trading in a narrow band as investors braced for the Bank of England’s policy decision on Thursday. The BoE is widely expected to lower its benchmark rate from 4.25% to 4%, and another cut is anticipated before year-end, even as inflation hovered near twice the bank’s 2% target in June.

Indian Rupee Rebounds After RBI Decision

In Asia, USD/JPY edged up to 147.66 after soft Japanese wage growth figures for June, which could signal slowing inflation in the coming months.

The Australian dollar regained ground, with AUD/USD rising 0.4% to 0.6489, following a recent slide to one-month lows. In contrast, USD/CNY gained 0.1% to 7.1891, amid speculation of further U.S. tariffs in response to China’s ongoing purchases of Russian oil.

The Indian rupee showed some resilience, with USD/INR falling 0.1% to 87.697, retreating from a record high above 88 seen earlier this week. The currency found support after the Reserve Bank of India (RBI) left interest rates unchanged at 5.50%, contrary to market expectations for further easing.

Investors had anticipated another rate cut due to increasing economic pressures, particularly from rising U.S. trade barriers. So far in 2025, the RBI has reduced rates by a total of 100 basis points.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

European stocks advanced on Wednesday, buoyed by a fresh wave of corporate earnings that have, so far, painted a largely optimistic picture for the second quarter.

As of 07:05 GMT, Germany’s DAX rose by 0.5%, France’s CAC 40 inched up 0.1%, and the UK’s FTSE 100 climbed 0.3%. The broadly upbeat earnings momentum has offered support to regional indices, even as signs begin to emerge that trade tariffs are starting to weigh on certain companies—hinting at possible challenges ahead in the third quarter.

Corporate Results Flood In

Another busy day for European earnings saw investors digest a wide range of updates.

Novo Nordisk (NYSE:NVO) trimmed its full-year sales and profit forecasts, citing slower-than-expected growth for its weight-loss drugs Wegovy and Ozempic in key markets. Despite that, the Danish pharmaceutical firm posted strong double-digit gains for the first half of the year.

Bayer (TG:BAYN) revealed it has cut around 12,000 full-time roles as part of its ongoing restructuring efforts aimed at improving efficiency and flattening management layers.

Siemens Energy (TG:SIE), meanwhile, expressed confidence in reaching the top end of its 2025 growth targets. The company credited solid U.S. demand for power equipment and wind turbines, which helped mitigate the negative impact of trade tariffs.

Fresenius (TG:FME) lifted its full-year revenue guidance, now projecting up to 7% organic growth thanks to improved performance in its healthcare divisions.

Commerzbank (TG:CBK) reported a 14% drop in second-quarter net profit from a year earlier, blaming restructuring charges. Still, the German lender raised its full-year forecast, signaling resilience despite short-term costs.

On a more somber note, Glencore (LSE:GLEN) saw first-half adjusted earnings fall amid declining coal prices and weaker copper output. The commodity giant also posted a deeper-than-expected net loss due to a significant impairment related to its Colombian coal operations.

On the other side of the Atlantic, investors await key earnings reports later in the day from Walt Disney (NYSE:DIS), Uber Technologies (NYSE:UBER), and McDonald’s (NYSE:MCD).

Economic Focus: Retail Sales and Industrial Orders

New figures released earlier showed German industrial orders fell by 1% in June, disappointing expectations for a 1% gain and raising concerns about industrial momentum in Europe’s largest economy.

Meanwhile, eurozone retail sales data for June is due later in the session. Economists anticipate a monthly rebound of 0.4%, following a 0.7% drop in May.

In the U.S., no major economic indicators are expected Wednesday, but attention will turn to a $42 billion auction of 10-year Treasury notes. This comes after Tuesday’s weak demand for a three-year note sale, which spooked bond markets.

Oil Prices Bounce Back

Crude prices climbed on Wednesday, staging a recovery from a five-week low hit during the previous session. The gains came amid speculation that the U.S. may tighten sanctions on countries buying Russian oil.

By 03:05 ET, Brent crude futures had risen 0.9% to $68.28 per barrel, while WTI crude futures gained 0.8% to $65.69.

Tuesday saw both benchmarks slide more than $1 a barrel, their lowest close in five weeks, amid fears that a planned output increase from OPEC+ in September could exacerbate a supply glut. The losses marked a fourth straight session of declines.

Adding to the mix, former U.S. President Donald Trump threatened further tariff hikes on Indian imports, targeting New Delhi’s continued purchase of Russian crude. Just last week, India was hit with a 25% tariff; more could follow this week, he warned.

Also supporting oil prices was data from the American Petroleum Institute (API) showing a sharper-than-expected drop in U.S. crude inventories—4.2 million barrels, compared to forecasts for a 1.8 million barrel draw.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.