[August 3, 2026] US Stock Market Premarket Briefing — Futures Rise Across the Board as Big Tech Earnings Week Kicks Off

MONDAY · AUGUST 3, 2026

US Stock Market Premarket Briefing

Futures Rally • Big-Cap Earnings Week • ISM Manufacturing in Focus

ℹ KEY SUMMARY

• All three major futures contracts are green: NQ +0.25%, ES +0.60%, YM +1.24%
• Big earnings week: PLTR reports today after close; AMD & SpaceX later this week
• ISM Manufacturing PMI for July drops at 10:00 AM ET — consensus 54.0 vs prior 53.3
• VIX at 15.96 signals calm but elevated vigilance as sentiment sits near “Fear” (42)
• DXY near 99.80; WTI crude holding with vol spread at ~14 pts

📈 Futures Market

Nasdaq 100 Futures

21,434

▲ +0.25%

Prev: 21,381

S&P 500 Futures

7,564.50

▲ +0.60%

Prev: 7,520

Dow Futures

53,287

▲ +1.24%

Prev: 52,635

📊 8 Key Indicators

Dow Jones (Prev Close)

52,485

▲ +0.53%

S&P 500 (Prev Close)

7,489.72

▲ +0.70%

Nasdaq (Prev Close)

25,373.85

▲ +1.00%

Russell 2000 (Prev Close)

2,931.34

▼ -0.50%

VIX (Fear Index)

15.96

Calm / Low Volatility

MOVE Index (Bond Vol)

83.02

Moderate Rate Volatility

DXY (Dollar Index)

99.80

Flat — Yen headwinds

Fear & Greed Index

42

Fear Zone

📰 Today's Top 5 Stories

1 TOP 1 — EARNINGS SEASON

Palantir (PLTR) Reports Q2 Today — Wall St Expects $0.35 EPS

Palantir reports after close at ~4:05 PM ET. Webcast at 5 PM ET. Street consensus: $0.35 EPS. AI government contract pipeline and commercial revenue growth will be in focus. Stock up significantly YTD amid AI spending tailwinds.

2 TOP 2 — BIG TECH EARNINGS

SpaceX First Public Earnings Report This Week — SPCX Stock Under Pressure

SpaceX will deliver its first-ever public earnings report this week. SPCX shares hit a new closing low Friday at $108.37 (-3.4%). Investors await Starlink revenue disclosures and Starship commercialization milestones. AMD also reports this week.

3 TOP 3 — MACRO DATA

ISM Manufacturing PMI (July) at 10 AM ET — Consensus 54.0

June came in at 53.3, below the 54.0 expected. Today's July reading is forecast to rebound to 54.0. A beat could accelerate the bullish momentum in industrials and cyclicals. Employment sub-index is a secondary watch at 49.7 prior.

4 TOP 4 — ECONOMY

US Economy Posts 6th Consecutive Quarter of 2.5%+ Growth

US GDP growth has exceeded 2.5% for six straight quarters — the longest streak in recent history. This supports the “soft landing” narrative, keeping rate-cut speculation alive while providing equity bulls with a fundamental backstop.

5 TOP 5 — FX & RATES

DXY Flat at 99.80 as Japan Coordinates Yen Stabilization Steps

The dollar held near 99.80 as Japanese authorities announced coordinated steps to curb the yen's slide, creating a partial offset to dollar strength. WTI crude oil volatility spread has narrowed to ~14 pts from a high of 30, signaling abating supply disruption fears.

🎯 Today's Trading Strategy

Bullish bias into the open given broad futures gains (NQ +0.25%, ES +0.60%, YM +1.24%). However, position carefully ahead of PLTR earnings after close — binary event risk is high.

Watch at 10 AM ET: ISM Manufacturing PMI. A print above 54.0 = industrial/cyclical rotation catalyst. Below 53.0 = macro headwind, defensive positioning warranted.

Key sectors: Technology leads (Nasdaq +1.00% Friday). Small caps lagged (Russell -0.50%), suggesting cautious risk appetite at the edges. Stay in large-cap quality names ahead of the heavy earnings calendar this week.

💼 This Week's Earnings Calendar (Aug 3–7)

MONDAY — August 3

PLTR

After

Palantir Technologies

After market (~4:05 PM ET)

AI government & commercial contracts; EPS est. $0.35

VRTX

After

Vertex Pharmaceuticals

After market

Pain franchise & pipeline update

MAR

Before

Marriott International

Before market open

Global RevPAR trends & travel demand

TUESDAY — August 4

SNDK

After

SanDisk (Most Anticipated)

After market

NAND flash memory cycle & AI storage demand

WEDNESDAY — August 5

AMD

After

Advanced Micro Devices

After market

MI300X GPU AI revenue & data center outlook

THURSDAY — August 6

SPCX

After

SpaceX (1st Public Report)

After market

Starlink revenue & Starship commercialization milestones

📅 Today's Economic Data

Today ISM Manufacturing PMI (July)

⏰ 10:00 AM ET  |  Consensus: 54.0  |  Prior: 53.3
Key: Manufacturing momentum & Fed rate path signal. Beat = risk-on. Miss = defensive rotation.

Today S&P Global Manufacturing PMI (July Final)

⏰ 9:45 AM ET  |  Flash reading already published
Key: Cross-check with ISM for manufacturing sector health

This Week July Jobs Report (NFP)

⏰ Friday Aug 7, 8:30 AM ET
Key: Most watched data of the week — labor market health & Fed cut timing. JOLTS on Tuesday.

This Week Construction Spending & Factory Orders

⏰ Tuesday Aug 4, 10:00 AM ET
Key: Hard data on manufacturing investment trends

✅ Investor Checklist

▢  10 AM ET: ISM Manufacturing PMI print — set alert for 54.0 level

▢  After Close: PLTR earnings — decide pre/post positioning by 3 PM ET

▢  This Week: Watch AMD and SpaceX for AI capex commentary

▢  Friday: July NFP — key Fed cut signal; protect with defined-risk options if holding into it

🏛 Previous Session Sector Performance

💻 Technology

+1.00%

Nasdaq-led

🏦 Financials

+0.53%

Dow-aligned

🏃 Consumer Disc.

+0.70%

S&P aligned

🏗 Small Caps

-0.50%

Russell lagged

⛽ Energy

Flat

WTI vol compressed

💊 Healthcare

+0.4%

VRTX ahead of earns

⚠ Risk Factors to Watch

1. Earnings Volatility: PLTR is a high-beta AI name; guidance miss could ripple into broader tech sentiment Monday night.

2. ISM Miss Risk: A sub-53 ISM print would signal manufacturing deceleration, potentially reversing the YM (+1.24%) futures premium.

3. Small Cap Divergence: Russell 2000 declining while large caps rally suggests credit-sensitive sectors are cautious — monitor HY spread widening.

4. Japan FX Policy: Coordinated yen-support measures could tighten carry trade positions, creating sudden equity de-risking.

5. SpaceX Unknowns: As a first-time public reporter, SpaceX could introduce accounting methodology surprises that move the broader space/defense sector.

Disclaimer: This briefing is for informational purposes only and does not constitute financial advice or investment recommendations. All market data reflects values at time of publication. Past performance does not guarantee future results. Please conduct your own due diligence before making any investment decisions.