Stocktwits data showed retail sentiment is weak, with a shift toward ‘extremely bearish’ on SPY and QQQ.
- Markets brace for more volatility as tensions escalate in the Middle East. Iran reportedly rejected a U.S. ceasefire proposal mediated by Iraq.
- President Donald Trump unveiled sweeping new tariffs targeting imports from roughly 60 trading partners.
- The AI investment theme remains intact despite the broader risk-off mood, with semiconductor companies continuing to report robust demand ahead of earnings from Microsoft, Meta Platforms, Amazon and Apple next week.
U.S. stock futures are mixed early Friday, while retail sentiment on major index ETFs (SPY, QQQ) has plunged to ‘extremely bearish’ on Stocktwits following a sharp escalation of tensions in the Middle East. Iran reportedly rejected a U.S. ceasefire proposal mediated by Iraq, even as U.S. President Donald Trump signaled that major military strikes could be under consideration.
Markets ended the previous session lower, while Brent crude surged past $100 per barrel for the first time since May. This has also fueled fresh concerns about inflation and interest rates ahead of the Federal Reserve’s meeting next week.
Adding to the macro uncertainty, Trump unveiled sweeping new tariffs on imports from around 60 trading partners. The new measures impose duties of 10% to 12.5% on most major trading partners following an investigation into alleged forced-labor practices in global supply chains. Countries including Canada, Mexico, the U.K. and India are among those facing the new levies.
Meanwhile, the AI investment cycle continues to strengthen, with semiconductor companies reporting strong demand from hyperscalers and enterprise customers ahead of next week’s earnings from Microsoft (MSFT), Meta Platforms (META), Amazon (AMZN) and Apple (AAPL).
As of 4:00 a.m. ET, Nasdaq futures declined 0.1%, Dow futures rose 0.3%, S&P 500 futures rose 0.1%, and Russell 2000 futures were flat.
On Stocktwits, retail sentiment for the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, and the Invesco QQQ Trust (QQQ), which tracks the Nasdaq-100 Index, has declined to ‘extremely bearish.’
Trending Stocks To Watch
Oil stocks (USO, BATL, TPET, XOM, CVX, OXY) remained in focus as crude oil prices hovered around $100/barrel amid fears of Middle East supply disruptions.
Oracle Corp. (ORCL): Gained nearly 3% in early premarket after securing a $7 billion, 10-year enterprise software contract with the U.S. Department of Defense.
Intel Corp. (INTC): Gained over 3% premarket after delivering stronger-than-expected Q2 results and issuing upbeat third-quarter guidance. CFO commentary pointed to rising 2026 capital expenditure and potential capital raises.
Memory Stocks (MU, SNDK, SKHY, WDC): Remain under pressure as investors parse commentary around a tight memory supply environment.
Advanced Micro Devices (AMD): Analysts praised its Advancing AI event, with Jefferies raising their price target to $640. They added that its server roadmap could narrow the competitive gap with Nvidia.
Tesla Inc. (TSLA): Rebounding slightly premarket after dropping over 14% on disappointing Q2 results and heavy capex plans, as CEO Elon Musk praised Tesla’s retail shareholder base. Meanwhile, Cathie Wood’s ARK Invest also bought roughly 160,000 Tesla shares yesterday.
SpaceX (SPCX): Plunged to 52-week lows following reports that the company is freezing dedicated Falcon 9 launch bookings beyond 2028 as it shifts its resources toward Starship. AST SpaceMobile (ASTS) & Rocket Lab (RKLB) shares also saw mild selling pressure in early premarket trade on short-term launch capacity concerns.
Hims & Hers Health Inc. (HIMS): Rose over 1% in early premarket trade after an FDA advisory panel recommended adding key compounded peptides to the 503A bulks list, unlocking potential market expansion.
Sellas Life Sciences (SLS): Saw positive retail reaction on Stocktwits to new Acute Myeloid Leukemia (AML) survival benchmark data ahead of a scheduled media appearance by the CEO.
Paramount Skydance (PSKY) remained in focus after a U.S. judge extended the pause on its proposed $110 billion acquisition of Warner Bros. Discovery (WBD) until Aug. 17, delaying the deal while the court considers a request to block the transaction.
Other tickers trending on Stocktwits at the time of writing included Iren Limited (IREN), Kraft Heinz (KHZ), Raytheon Technologies (RTX), Cleanspark (CLSK), and Upstart Holdings (UPST).
Other Catalysts To Watch
On the economic front, investors will be watching for the release of the S&P Global Flash manufacturing and services PMIs and new home sales data later today.
On the earnings front, Verizon (VZ), American Express (AXP), NextEra Energy (NEE), and SLB Ltd. (SLB) are among those reporting before the bell.
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