The Morning Bull – US Market Morning Update Friday, Jul, 31 2026
US stock futures are pointing higher this morning, with E-mini S&P 500 contracts up about 0.3% and Nasdaq 100 futures gaining roughly 0.5%. The key driver is inflation. The US PCE price index for June is expected to edge down 0.1% month on month, while the core measure is seen up 0.2%. That suggests the cost of living is easing but still above the Federal Reserve’s 2% target. At the same time, US Q2 GDP is projected at 2.1% annualized, which signals consumers are still spending. The dilemma for investors is whether slower inflation plus steady growth favors interest rate sensitive sectors such as tech, or more cyclical areas such as industrials and consumer stocks.
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Top Movers
- Nebius Group (NBIS) surged 27.13% ahead of its Q2 2026 results and upcoming annual general meeting.
- Bloom Energy (BE) jumped 26.49% after strong Q2 results, raised 2026 guidance, and a Mizuho upgrade.
- Sandisk (SNDK) surged 25.99%.
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Top Losers
- Alnylam Pharmaceuticals (ALNY) fell 28.31% after updating 2026 product revenue guidance to a lower range.
- Fair Isaac (FICO) declined 17.01% after mixed analyst reactions to Q3 results and updated guidance.
- Tradeweb Markets (TW) slipped 9.60% following its Q2 earnings release and buyback tranche updates.
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On The Radar
Earnings from consumer staples, health care, and energy combine with fresh manufacturing data to guide sentiment into next week.
- Consumer Staples Earnings: Colgate-Palmolive (CL) reports Q2 today. Watch pricing power and volume trends in everyday essentials.
- Health Care Focus: AbbVie (ABBV) posts Q2 today. Guidance and product mix will shape views on its earnings durability.
- Biotech Results: Moderna (MRNA) reports Q2 today. Investors will focus on pipeline updates and post-pandemic revenue balance.
- Energy Majors: Chevron (CVX) and ExxonMobil (XOM) report Q2 today. Cash generation and capital plans matter for income focused investors.
- US Manufacturing Pulse: ISM Manufacturing PMI (US) for July on Monday will update the picture for goods demand and factory activity.
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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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