The Morning Bull - US Market Morning Update Friday, Jul, 24 2026 US stock futures are pointing lower this morning, with E mini S&P 500 contracts down about 0.4%, as investors react to higher borrowing costs and a jump in market volatility.

The absence of fresh overnight escalations between the U.S. and Iran halted the global oil benchmark’s upward march, as investors hope leaders seek an off-ramp.

Major stock indexes were mixed at the end of a down week Friday, with the Nasdaq Composite declining as chip stocks sank but the Dow Jones Industrial Average rising. The tech-focused Nasdaq pulled back 0.

U.S. stock futures ticked higher after a sharp tech-led selloff, as investors assessed earnings from Intel and Oracle, fresh Trump tariffs and rising Middle East tensions. Oil volatility and Fed rate expectations added to cautious sentiment ahead of key data and earnings.

President Donald Trump unveiled sweeping new tariffs targeting imports from roughly 60 trading partners. The AI investment theme remains intact despite the broader risk-off mood, with semiconductor companies continuing to report robust demand ahead of earnings from Microsoft,

Markets were primarily focused on earnings from major companies, alongside rising oil prices due to the continued tensions between the U.S. and Iran.

As stock futures have extended their declines, and as oil prices and Treasury yields have kept rising, the Cboe Volatility Index has surged 13.3% to a one-month high of 18.85. The VIX, known as the market's "fear gauge,