NASDAQ will surpass NYSE in the first half of 2025
NASDAQ outperformed NYSE in the first half of 2025, raising $21.3 billion through IPOs compared to NYSE’s $8.7 billion.
Cheddar
U.S. stock futures are higher as investors consumed revenue, tariffs and what President Donald Trump, who replaces the resignation of the Federal Reserve Governor, may mean for the economy, interest rates and Bitcoin.
Trump chose Stephen Milan, chair of the White House Economic Advisors Council, to serve the remaining six months in the term of former Fed governor Adriana Kugler, who resigned on August 1. Milan was a Fed critic and a supporter of Bitcoin.
Meanwhile, Expedia, Pinterest, SweetGreen and Instacart were among the companies that reported after Bell. General Motors also said it will continue to buy Chinese batteries for electric vehicles despite tariffs.
At 6am on ET, futures linked to the Blue Chip Dow rose 0.18%, while the Broad S&P 500 futures added 0.27%, while the high-tech Nasdaq futures increased 0.30%.
Corporate News
- The block reported second-quarter earnings per share that missed analyst forecasts but boosted its full-year outlook.
- Pintrest’s second quarter sales exceeded expectations, but earnings per share missed estimates. Current quarter revenue is expected to surpass forecasts.
- Expedia has increased its full-year revenue guidance, surpassing its second-quarter adjusted revenue per share.
- Soundhound posted narrower than expected adjusted losses per share in the second quarter, with sales smashing past estimates. The artificial intelligence voice company has also lifted its full-year revenue guidance.
- TradeDesk has broken through second quarter estimates and current quarter sales guidance.
- General Motors continues to buy electric vehicle batteries from China despite tariffs.
- SweetGreen missed its second quarter estimate and lowered its annual outlook.
- Flutter surpassed its second quarter forecast and raised full-year guidance.
- Instacart’s results beat the second quarter forecast. Grocery delivery companies also gave strong guidance.
- Nextdoor has significantly reduced employment by 12% of its workforce, or 67. The Chief Financial Officer has also resigned.
Cryptocurrency
Stephen Milan, chairman of the Economic Advisory Council and Trump’s election to replace Adriana Kugler as federal governor, are supporters of Bitcoin. He has published supportive comments on social media
“I think cryptography has a huge potential role to play in innovation and adoption of another Trump administration’s economic boom,” he said previously.
Medora Lee is a money, market and personal finance reporter for USA Today. You can contact her at mjlee@usatoday.com and subscribe to our free daily money newsletter for personal finance tips and business news every Monday to Friday morning.
