US EQUITY OPEN: Sentiment boosted amid optimism of a Trump/Putin meeting

Analysis details (14:54)

OPEN: US indices opened on a firmer footing as sentiment was bolstered with a US/Russia meeting expected in the next few days. Energy and Tech are the sectorial outperformers with the latter buoyed by Apple (AAPL) (+3%) after it confirmed the USD 100bln investment in the US. Once again, earnings were plentiful (highlights below) with FTNT plunging, ABNB falling, and DUOL surging. Health is the only sector in the red and weighed on after Eli Lilly (LLY) ( ) reported disappointing results from oral GLP-1 Orforglipron weight loss trials, despite strong earnings. The Dollar is flat with the Pound outperforming after the latest BoE meeting – the ‘Old Lady’ cut rates to 4.0% after historic split vote, signalling deeper policy divide (Newsquawk BoE review here). Treasuries are mixed across the curve with short end seeing losses and long-end gaining ahead of the US 30yr auction. WTI and Brent are firmer by c. USD 0.30/bbl and well within session ranges, after chopping in earlier trade on Putin/Trump rhetoric. On the data front, initial jobless claims rose to 226k (exp. 221k, prev. 219k), while continued claims soared to 1.974mln (exp. 1.95mln, prev. 1.936mln). Q2 prelim unit labour costs and productivity both printed above consensus. Ahead, NY Fed SCE, Banxico, and aforementioned US auction are the scheduled risk events. Note, attention remains on Kugler’s replacement with an announcement expected before the end of the week.

STOCK SPECIFICS:

• 
  Apple (AAPL): Pledges another USD 100bln investment in the US.


• 
  Sony (SONY): Raised earnings outlook.


• 
  Eli Lilly (LLY): Disappointing results from oral GLP-1 Orforglipron weight loss trial; in earnings, EPS, revenue beat and lifted FY view.


• 
  Fortinet (FTNT): Said it was 40-50% of the way through its 2026 renewal cohort has shaken investor confidence.


• 
  Airbnb (ABNB): Strong Q2 numbers, but warned overall growth may slow later in ‘25 due to tough comps.


• 
  DoorDash (DASH): EPS and revenue topped with strong next quarter guidance.


• 
  Occidental Petroleum (OXY): Top and bottom line beat.


• 
  CF Industries (CF): Profit light.


• 
  Duolingo (DUOL): Revenue beat with strong guidance.


• 
  Becton, Dickinson and Company (BDX): Top and bottom line beat; raised guidance.


• 
  Kenvue (KVUE): FY guidance underwhelms.

07 Aug 2025 - 14:54- EquitiesData- Source: Newsquawk