Stock Market Today: Dow Futures Gain, Nasdaq 100 Tumbles as Hormuz Deal Talks Progress—SpaceX, SanDisk, Applovin in Focus (UPDATED)
U.S. stock futures were mixed as Dow and S&P 500 rose while Nasdaq 100 fell, with SPY up 0.13% to $770.80 and QQQ down 0.56% to $713.30. Reuters said Oman-brokered Hormuz talks could let Tehran control inbound shipping, though Washington resists. Companies in focus included SpaceX (SPCX), SanDisk (SNDK), Western Digital (WDC), Applovin (APP), HubSpot (HUBS) and Circle (CRCL).
How this was made
The 30-second read
Why it matters
Near-term trading is likely driven by (1) premarket reactions to earnings and guidance (APP, HUBS, WDC, SNDK), (2) supply overhang risk from SPCX’s unlock schedule, and (3) macro sensitivity to higher-for-longer rate expectations.
Market read
Company-specific earnings and guidance reactions are the dominant tradable signals, while macro data and Fed-hike odds set the broader risk-rate tone.
What to watch
The article does not include full guidance details for HUBS or the specific revenue drivers for APP, so traders may be trading incomplete information until management commentary and filings clarify the misses.
Background
This is a US market wrap with company-specific premarket moves, plus macro context from labor productivity, jobless claims, rates, and Hormuz shipping negotiations.
Ticker impact
SpaceX-linked SPCX rose premarket as its staggered unlock schedule begins, releasing up to 20% to 30% of restricted insider shares.
Choppy trading risk around unlock headlines; direction likely depends on whether selling pressure materializes.
The article specifies the unlock start date and tranche size, which can affect near-term liquidity and sentiment.
SanDisk SNDK fell 9.45% premarket despite better-than-expected Q4 results and an expanded $14B share repurchase program.
Bias to continued volatility until investors reconcile the miss versus expectations and the buyback rationale.
The text gives both the premarket drop and the new $14B expansion, implying a mixed interpretation by traders.
Western Digital WDC tumbled 13.89% premarket after beating Q4 results, but issuing Q1 EPS and revenue guidance near estimates.
Downward pressure likely persists while traders digest the guidance range versus consensus.
The article includes the specific Q1 adjusted EPS and revenue ranges and the magnitude of the premarket drop.
Applovin APP slumped 14.31% premarket after Q2 revenue missed estimates, even though EPS beat.
Near-term downside bias until management commentary clarifies revenue drivers and durability.
The article provides the revenue miss versus estimates and the large premarket decline, linking the two directly.
HubSpot HUBS plunged 23.31% premarket despite upbeat Q2 earnings and sales results.
High volatility risk; follow-through depends on what specifically disappointed beyond the reported beats.
The article states the beat and the plunge but does not provide the missing metric that triggered the move.
Circle Internet Group CRCL declined 2.50% after reporting mixed Q2 financial results.
Likely range-bound to slightly negative until more granular drivers emerge.
The article provides the direction and magnitude but not the specific components of the mixed quarter.
Market effects
AI and rates backdrop is framed as supportive for profitability, but the company-specific tech selloffs (APP, HUBS) highlight valuation sensitivity to revenue/guidance.
Global equities were mostly lower in Asia, which can amplify US tech weakness at the open.
Hormuz shipping-control negotiations and easing crude prices add geopolitical and energy sensitivity to risk appetite.
Counterpoint
The large premarket drops (APP, HUBS, WDC) may be overreacting to headline revenue/EPS versus guidance ranges, with buybacks and longer-term AI demand still intact.
Key entities
- companySpace Exploration Technologies Corp.
SPCX is highlighted for a staggered insider share unlock schedule beginning Thursday.
- companySanDisk Corp.
SNDK is highlighted for a premarket drop despite better-than-expected Q4 results and an expanded repurchase authorization.
- companyWestern Digital Corp.
WDC is highlighted for a premarket tumble alongside Q1 EPS and revenue guidance ranges.
- companyApplovin Corp.
APP is highlighted for a premarket slump tied to Q2 revenue missing estimates.
- companyHubSpot Inc.
HUBS is highlighted for a sharp premarket plunge despite upbeat Q2 earnings and sales.
