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Below are AI-generated insights on today's premarket moves, powered by MarketReader technology.

Friday, July 24

Noteworthy macro moves today: Nikkei 225 Index (Japan) -2.9%. Oil (WTI) -3.6%. DAX 30 Index (Germany) +1.0%. Noteworthy US mega-cap moves today: Tesla Inc (TSLA) +1.6%. Microsoft Corp (MSFT) +1.3%. Space Exploration Technologies Corp. Class A Common Stock (SPCX) +1.0%.

Global equity indices are trading mixed, with U.S. and European markets higher while Asian markets are lower. The Nikkei 225 Index in Japan has seen a significant decline of nearly 2.9%, reflecting concerns over rising oil prices and geopolitical tensions in the Middle East, particularly following recent military actions involving Iran.

In the commodities market, WTI crude oil prices have dropped by approximately 3.6%, falling below $100 per barrel amid fears of energy-driven inflation and ongoing conflicts affecting supply chains. This decline in oil prices comes after a surge earlier this week due to heightened tensions in the region.

Recent economic data released today indicates that Japan's inflation rate rose to 1.7% for June, aligning with market expectations and suggesting potential shifts in monetary policy as global pressures mount. Additionally, Germany's S&P Global Manufacturing PMI Flash surged to 52.2, signaling strong growth and improved market sentiment amid ongoing economic challenges.

In Canada, the New Housing Price Index showed resilience with a reported increase for June, while manufacturing sales are expected to edge down slightly according to preliminary estimates released today. Meanwhile, consumer confidence in Germany has unexpectedly weakened to -29.6, indicating persistent pessimism among consumers amidst rising inflation concerns.

United States Oil Fund LP (USO) [-2.7%]
Negative sentiment surrounds United States Oil Fund LP following reports of explosions in Jask, Southern Iran, and a drone strike in Saudi Arabia targeting a logistics depot associated with the U.S. These incidents have heightened geopolitical tensions, contributing to concerns over regional stability and potential disruptions to oil supply chains. Crude oil prices are under pressure amid these developments, with reports indicating a significant decline since Thursday's close. Earlier in the session, prices for WTI crude hit a low reflecting a cumulative drop, further influencing market perceptions negatively for the fund. In pre-market trading, United States Oil Fund LP is declining, reflecting this broader negative sentiment and volatility in the oil market.

iShares MSCI Germany ETF (EWG) [+1.5%]
Crude oil prices surged over 6% due to escalating tensions in the Middle East, following attacks on Saudi tankers by Iran-backed Houthis. This spike raises concerns about inflation and potential interest rate hikes, which could influence market sentiment toward German equities represented by the iShares MSCI Germany ETF. Positive economic data from Germany, indicating an expansion in manufacturing activity, may further bolster investor confidence in the large-cap companies within EWG's portfolio. In pre-market trading, EWG is advancing, supported by strong performances from key holdings such as SAP, which returned 5.09%. The ETF has gained since Thursday's close, reflecting broader positive trends in U.S. and European markets despite mixed global equity indices.

iShares MSCI Brazil ETF (EWZ) [-1.1%]
Pre-market trading for iShares MSCI Brazil ETF reflects a decline, influenced by recent geopolitical tensions in the Middle East, particularly the attacks on Saudi Arabian tankers by Iran-aligned Houthis. This situation has led to a significant increase in crude oil prices, raising concerns about inflation and potential interest rate hikes in the U.S., which may negatively impact emerging markets such as Brazil. Additionally, there have been notable outflows from U.S. equity funds as investors react cautiously to rising oil prices and upcoming technology earnings reports. Among the ETF's holdings, PBR and GGB contributed negatively, with returns of -0.61% and -0.3%, respectively, while VIV and VALE provided slight positive contributions. Overall, the ETF is trading lower since Thursday's close.

SAP | +6.1% | +11.1B
Sap Se | Information Technology
SAP SE reported strong second-quarter results, with revenues of EUR 9.88 billion, up from EUR 9.03 billion year-over-year, and a profit of EUR 2.21 billion compared to EUR 1.75 billion in the prior year. The company highlighted a current cloud backlog of EUR 22.9 billion, indicating robust growth in its cloud offerings. Despite these positive results, analysts adjusted their price targets downward, with Bernstein SocGen Group lowering its target to EUR 273 from EUR 276, while TD Cowen and KeyBanc reduced theirs to $205 and $200, respectively. Nonetheless, SAP shares are trading sharply higher in pre-market hours, reflecting investor reassurance regarding the resilience of its cloud business amid mixed future expectations.

EW | +6.4% | +3.5B
Edwards Lifesciences Corp | Health Care
Analyst actions contributed to a notable price increase for Edwards Lifesciences Corp. Bernstein SocGen Group raised its price target to $99 from $96, maintaining a Market Perform rating. Piper Sandler increased its target to $101, while Deutsche Bank and JPMorgan lifted their targets to $103 and $105, respectively. These revisions follow the company's second-quarter earnings report, which exceeded expectations with sales of $1.74 billion and adjusted EPS of $0.78, both above consensus estimates. Analysts responded positively to the robust growth in the Transcatheter Aortic Valve Replacement (TAVR) and Transcatheter Mitral and Tricuspid Therapies (TMTT) segments, alongside an optimistic outlook for the remainder of the year. As a result, shares are trading sharply higher during pre-market hours.

THC | +15.4% | +3.5B
Tenet Healthcare Corp | Health Care
Tenet Healthcare Corp reported robust second-quarter results, exceeding analyst expectations with an EPS of $6.12, significantly above the forecast of $4.23, and revenues of $5.63 billion, surpassing estimates of $5.43 billion. The company raised its full-year guidance for 2026, projecting revenues between $21.9 billion and $22.5 billion and adjusted EPS between $20.30 and $21.69. Following these results, BofA Securities raised its price target to $265 from $230, affirming a Buy rating, while Barclays increased its target to $271 from $240, maintaining an Overweight rating. These developments have collectively fueled significant pre-market gains for Tenet Healthcare shares.

AMKR | +11.0% | +2.0B
Amkor Technology Inc | Information Technology
Amkor Technology Inc has announced a strategic partnership with NVIDIA, which includes a $1.5 billion prepayment aimed at enhancing Amkor's advanced packaging capacity in the U.S. This collaboration focuses on developing semiconductor packaging and testing technologies for next-generation AI platforms, emphasizing the importance of domestic semiconductor supply chains. Following this announcement, Amkor's shares surged significantly in after-hours trading and have continued to gain sharply during pre-market hours today. Additionally, UBS upgraded Amkor's stock rating from Neutral to Buy, raising the price target from $80 to $90, reflecting a favorable outlook for the company's advanced packaging business amid rising demand in the server CPU market and inflationary pressures.

CHTR | -7.1% | -1.2B
Charter Communications Inc | Communication Services
Charter Communications reported a 1.7% year-over-year decline in Q2 revenue to $13.5 billion, missing analysts' expectations of $13.52 billion. The company also experienced significant customer losses, with a decrease of 172,000 Spectrum Internet customers and 21,000 video customers during the quarter. Adjusted EBITDA fell by 4.3% to $5.4 billion, while earnings per share came in at $10.66, surpassing the expected $9.96. These results reflect ongoing challenges in maintaining its customer base amid a competitive landscape, leading to a negative pre-market reaction. Consequently, Charter Communications shares are trading sharply lower in pre-market hours following these announcements.

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