US PREMARKET ACTIONS: August 1, 2025
**Futures Indices**
Dow Futures: -0.8%
S&P 500 Futures: -0.8%
Nasdaq 100 Futures: -1%
US 10-Year Yield: 4.39%
Market Environment
US indices are falling this Friday in a tense environment after a Donald Trump decree implementing new "reciprocal" tariffs ranging from 10% to 41% on dozens of countries. Products suspected of customs circumvention will face an additional 40% tax.
At the same time, investors are awaiting the July jobs report: +110K jobs expected (vs 147K in June) and an unemployment rate forecast at 4.2%. According to UBS, "companies are hesitant to hire amid fiscal and trade uncertainties" while Deutsche Bank mentions a broad-based loss of momentum despite strong tech results.
The market therefore remains under pressure, especially as recent economic data (persistent inflation, weak consumption) increases uncertainty regarding the path of rates.
Other releases expected:
- July ISM Manufacturing: 49.5 (expected)
- Final PMI Index: 49.5
- Consumer sentiment (July) to be followed during the session
Stocks to Watch
**Figma (FIG) +18%**
Continues to soar after an explosive IPO (+250% during Thursday’s session). The stock, introduced at $33, briefly exceeded $105, valuing Figma at over $50B from the outset.
**Reddit (RDDT) +14%**
Strong quarterly results with a double beat and optimistic outlook. DAUs up 21% to 110.4M, revenue up 78% to $500M, driven by robust advertising growth.
**Coinbase (COIN) -9%**
Adjusted earnings well below expectations