US markets today: Dow, S&P 500, Nasdaq futures indicate mixed open amid tech selloff pressure, earnings in focus

The Dow Jones futures were trading 0.37% higher at 52,084 points ahead of the opening bell on Friday, indicating a more than 300-point higher opening as investors hope for a potential recovery post a selloff, while monitoring the mixed global market cues.

The S&P 500 index futures were trading 0.15% higher at 7,455.50 points ahead of Friday’s opening, indicating a nearly 50-point higher open when compared to the previous equity market close levels.

While the Nasdaq 100 index futures were trading flat at 28,626 points ahead of the Wall Street open on July 24, indicating a nearly 400-point gap-down opening from the previous market close as investors focused on major selloff cues.

Equity market investors will continue to monitor crude oil prices in the global market, technology stock performance, Q2 earnings, along with the US attacks against Iran in West Asia.

Key things to watch before US market opens

US market recap

US equity market indices witnessed heavy selloff pressure resulting in major losses on Thursday, July 23, as investors focused on the tech sector Q2 earnings amid inflation concerns in the US economy as oil prices top $100 per barrel.

MarketWatch data showed that the Dow Jones Industrial Average closed 0.97% lower at 51,711.65 points after the trading session on Thursday, compared to 52,218.58 points at the previous equity market close.

The S&P 500 index ended 1.21% lower at 7,408.30 points after the trading session on July 24, compared to 7,498.96 points at the previous stock market close, according to the exchange data.

While the tech-heavy Nasdaq 100 index declined 1.87% to close at 28,454.81 points after Thursday’s trading session, compared to 28,998.10 points at the previous market close, as per the data.

Stocks to watch on July 24

Stocks like SK Hynix ADR, Nvidia, Broadcom, AMD, Qualcomm, Taiwan Semiconductor (TSMC), Texas Instruments, ASML Holdings, Microsoft, Apple, Amazon, Meta and Oracle are likely to focus of investors.

Economic data release today

Among the key economic data sets to be released on Friday, July 24, are the US Flash Manufacturing PMI data, which is set to be released at 9:45 am (ET), along with the US Flash Services PMI data.

According to the economic calendar, the new home sales data is also expected to be released on Friday.

Investors will evaluate all the key major economic data ahead of the US Federal Reserve’s upcoming monetary policy meeting next week. The market widely expects the central bank to keep the rates unchanged.

CME Group’s FedWatch data suggests that 64.2% of the market expects the US Fed to keep the interest rates unchanged in the range of 3.50% to 3.75%, while 35.8% of the market expects the central bank to raise rates by 25 basis points in the upcoming meeting.

Oil price check

Global benchmark Brent crude oil prices surged 15% so far this week to hit a high of $101.16 per barrel (bbl) on Friday’s market, compared to $88 per bbl levels at the previous week’s market close.

At 6:45 pm (IST), Brent crude prices were trading 2.7% lower at $97.84 per bbl on Friday’s market session, compared to $100.69 per bbl at the previous stock market close, according to Investing.com data.

Crude oil prices jumped on Friday’s market after the 13th round of US strategic attacks on Iran and US President Trump’s comments about how America is not ready to negotiate a new ceasefire deal.