US Stock Market Today: S&P 500 Futures Slip As Oil And Services Strengthen

The Morning Bull – US Market Morning Update Wednesday, Jul, 8 2026

US stock futures are mixed this morning, with E-mini S&P 500 contracts slightly softer while Dow futures edge higher, as investors weigh fresh signals on inflation and growth. Oil is back above $72 a barrel after tensions in the Strait of Hormuz, which makes fuel more expensive to transport and feeds worries that the cost of living could stay higher for longer. At the same time, the ISM Services PMI at 54.0 shows the largest part of the US economy is still growing, even as price pressures in that survey eased. The key question for investors now is whether resilient services and firmer oil prices will keep interest rates elevated for longer. This could keep rate sensitive sectors like real estate under pressure while keeping the focus on energy producers and companies tied to consumer spending.

With inflation worries and rate sensitive sectors in focus, zero in on 74 resilient stocks with low risk scores before volatility picks up.

Top Movers

Cloudflare (NET) jumped 8.60% after a Scotiabank upgrade to Outperform with a higher price target.
Venture Global (VG) gained 6.82%.
Occidental Petroleum (OXY) rose 5.88% as investors focused on Occidental Petroleum in the stronger oil backdrop.

Is Cloudflare still a smart investment or just hype? Read our most popular narrative and get all the answers you need.

Top Losers

Rivian Automotive (RIVN) fell 18.12% after completing a US$1.16b follow on equity offering.
Astera Labs (ALAB) declined 11.52% following insider share sales, including transactions by the company chairman.
Rocket Lab (RKLB) fell 10.40%.

Look past the noise – uncover the top narrative that explains what truly matters for Astera Labs’ long-term success.

On The Radar

Early Q2 earnings from consumer giant PepsiCo and travel bellwether Delta Air Lines headline an otherwise quiet macro calendar.

Consumer Staples: PepsiCo (PEP) reports Q2 results on Thursday, with attention on volumes versus pricing power.
Airlines: Delta Air Lines (DAL) posts Q2 earnings on Friday, updating on travel demand and cost trends.
Rates Focus: Recent US 10Y yield moves ahead of FOMC minutes keep interest rate expectations in sharp focus.
Services Activity: The latest US Services PMI readings frame how resilient services remain as price pressures ease.

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How To Find Stocks That Fit Your Strategy

Do not just chase headlines, especially on a volatile morning like this when opportunities can tighten fast. Instead, focus on solid balance sheet and fundamentals stocks screener (47 results) to spot companies built to handle stress and still keep their fundamentals front and center.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.