Wall Street Futures Boosted By US-Japan Trade Deal; Abivax Soared 490%; Fiserv Down 17%; Opendoor Down 10%

U.S. stock index futures rose on Wednesday after President Donald Trump clinched a trade deal with Japan, fueling hopes for a wave of new agreements ahead of the fast-approaching August 1 deadline.

Market Snapshot

At 8:13 a.m. ET, S&P 500 E-minis were up 24 points, or 0.38%, Nasdaq 100 E-minis were up 30 points, or 0.13%, and Dow E-minis were up 230 points, or 0.51%.

Pre-Market Movers

U.S.-Listed Shares of Abivax soared 490% in premarket trading after positive late-stage study results for its bowel disease treatment.

Opendoor Technologies fell 10% after the company, which buys and sells homes, closed down 10% at $2.88 on Tuesday.

FISERV INC shares tumbled 17% premarket. Fiserv has entered into a purchase agreement with TD Bank Group to acquire a part of TD’s merchant processing business in Canada as part of a broader strategic relationship deal with the Canadian bank.

Hilton Worldwide -- The hotel stock slipped nearly 2% despite Hilton posting a second-quarter earnings and revenue beat. Hilton reported adjusted earnings of $2.20 per share on revenue of $3.14 billion, while analysts polled by LSEG had expected earnings of $2.04 and $3.10 billion in revenue. The company also raised its full-year earnings guidance to between $7.83 to $8.00 per share, versus its prior range of between $7.76 and $7.94.

Hasbro — Shares traded 3% higher in the premarket after the toymaker reported second-quarter results that beat analyst expectations. The company earned an adjusted $1.30 per share on revenue of $980.8 million. Analysts expected a profit of 78 cents per share on revenue of $880 million, according to LSEG. Hasbro also raised its full-year earnings guidance, “fueled by performance in our Wizards business,” CFO Gina Goetter said in a statement.

SAP SE  — U.S.-listed shares of the enterprise software company fell 4.2%. The company posted 9.03 billion euros for second-quarter revenue, missing the LSEG consensus estimate of 9.08 billion euros.

Texas Instruments — The chip stock dropped nearly 10% in premarket trading after the firm released a third-quarter forecast that missed estimates. The semiconductor company did report second-quarter results that beat analysts’ expectations for revenue and earnings, however.

AT&T Inc — The telecom giant saw shares falling more than 3% even after the company exceeded Wall Street expectations for second-quarter earnings and revenue. AT&T also added more wireless subscribers than expected as discounted bundles combining 5G mobile and high-speed fiber plans gained traction.

Enphase Energy — The solar stock dropped 8% in early trading after the firm issued third-quarter revenue guidance that came below Wall Street estimates. Enphase said tariffs had impacted its gross margin.

Capital One — The bank stock climbed nearly 3% in premarket after the consumer lender’s earnings crushed expectations, helped by a rise in interest income. Its quarterly revenue came in below an LSEG estimate, however.

Intuitive Surgical — The healthcare name rose about 1% in premarket after the firm beat Wall Street estimates for second-quarter profit and revenue amid increasing demand for its surgical robots used in minimally invasive procedures.

Market News

Trump administration not in a rush to replace Powell, Treasury chief Bessent says

U.S. Treasury Secretary Scott Bessent on Wednesday told Bloomberg TV in an interview that the Trump administration was not in a rush to nominate a new Federal Reserve Chair to replace Jerome Powell.

Bessent said he continues to have regular meetings with Powell and that Powell had not told him whether he would leave his board seat.

EU Readies €100 Billion No-Deal Plan to Match US 30% Tariff

The European Union plans to quickly hit the US with 30% tariffs on some €100 billion ($117 billion) worth of goods in the event of no deal and if US President Donald Trump carries through with his threat to impose that rate on most of the bloc’s exports after Aug. 1.

As a part of a first wave of countermeasures, the EU would combine an already approved list of tariffs on €21 billion of US goods and a previously proposed list on an additional €72 billion of American products into one package, an European Commission spokesman said on Wednesday.