US stock futures wavered amid a tough batch of corporate earnings and persistent trade uncertainty.
Futures attached to the Dow Jones Industrial Average (YM=F) and the benchmark S&P 500 (ES=F) hovered around the flat line. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) fell roughly 0.2%.
After the bell on Tuesday, Chipmaker AMD (AMD) reported mixed results and said AI demand remains strong, but its stock fell on costs tied to President Trump’s changing stance on chip sales to China. Super Micro (SMCI) also saw its shares dive after an earnings miss highlighted growing competition in the AI server market. The stocks of EV makers Rivian (RIVN) and Lucid (LCID) tumbled too with both companies warning that the end of the EV tax credit would impact business.
In day trading, stocks fell as Trump continued to amp up trade threats and new economic data revealed the services sector had unexpectedly flatlined.
Read more: The latest on Trump’s tariffs
On Wednesday, Disney (DIS) and McDonald’s (MCD) are set to report earnings. Meanwhile, US trade partners are scrambling to strike trade deals before Trump’s new tariff deadline arrives Thursday.
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Stock market coverage for Wednesday, August 06, 2025.