US Stock Market Today: S&P 500 Futures Edge Higher On Mixed Inflation And Rate Worries

The Morning Bull – US Market Morning Update Tuesday, Jul, 21 2026

US stock futures are pointing slightly higher this morning, with S&P 500 contracts up about 0.2% and Nasdaq 100 futures ahead roughly 0.4%, as investors weigh a mix of interest rate worries and fresh economic clues. The 10 year US government bond yield is around 4.57%, which means borrowing costs across the economy remain relatively expensive and keeps pressure on rate sensitive areas like housing, utilities and smaller companies. At the same time, import prices rose 0.3% in June while export prices slipped 0.6%, sending a mixed signal on inflation and global demand. The key question now is whether higher borrowing costs and patchy price data slow the US consumer enough to cool the cost of living, or simply squeeze earnings for rate exposed sectors such as real estate and parts of consumer discretionary stocks.

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Top Movers

• Global Payments (GPN) jumped 5.85% after a Morgan Stanley upgrade and higher price target.
• Alibaba Group Holding (BABA) climbed 4.67% as investors focused on its AI partnerships and new model preview.
• Credo Technology Group Holding (CRDO) gained 4.63% after Barclays raised its price target and reiterated a positive rating.

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Top Losers

• Bloom Energy (BE) fell 8.33% as fuel cell and hydrogen stocks pulled back after recent strength.
• Guardant Health (GH) declined 5.00% despite Guggenheim recently lifting its price target on the stock.
• Carvana (CVNA) declined 4.75%.

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On The Radar

Earnings from mega cap tech, autos, and housing linked stocks will dominate the next few sessions.

• Alphabet (GOOGL) reports Q2 on Wednesday, updating the picture for digital advertising and broader US tech spending.
• Tesla (TSLA) posts Q2 on Wednesday, keeping focus on electric vehicle demand and the company’s execution on growth plans.
• AT&T (T) discusses Q2 on Wednesday, with attention on subscriber trends and cash flow to support its balance sheet.
• US Housing Data from June, including housing starts and permits, helps you gauge construction and rate sensitive activity.
• D.R. Horton (DHI) Q3 update on Tuesday offers another read on new home demand alongside recent housing starts data.

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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.

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