U.S. equities are set for a mixed-to-slightly positive open. S&P 500 and Nasdaq futures are edging higher while Dow futures lag, as traders balance strong earnings momentum against renewed uncertainty around the Strait of Hormuz and higher oil prices. Reuters
S&P 500 / SPY: SPY closed Friday at $773.26, near a record high, after the S&P 500 gained 0.62% on the session. Friday’s SPY range was $769.61–$773.91. Reuters
Key levels: support $769.60–$770, then $767.50. Resistance $773.90–$774, then the recent high near $776.85. Investing.com
Nasdaq / QQQ: QQQ closed Friday at $723.03, up about 1.17%, after trading between $716.51 and $723.63. Tech remains the stronger side of the market, supported by AI optimism and reduced expectations for near-term Fed tightening after Friday’s weak jobs report. Investing.com
Key levels: support $720, then $716.50. Resistance $723.60–$724, then $728.50. Investing.com
Dow: The Dow finished Friday at 54,036.93, up 0.3%, but Dow futures are slightly softer this morning as rising oil prices and geopolitical uncertainty weigh on sentiment. AP News
Premarket Movers
SPCX: approximately +5% premarket, extending its rebound after Citi reiterated a $200 target; the stock remains highly volatile following its first public earnings report and lockup expiration. Investor’s Business Daily
Embraer: roughly +6% premarket following its latest results. Ferguson: roughly -1.5%. Investor’s Business Daily
Energy names including OXY, MPC and VLO are getting support as crude oil moves higher, while airlines, cruise lines and other fuel-sensitive companies face pressure. AP News
Today’s Catalysts
There is no major U.S. macro release dominating Monday morning. The market is instead positioning for July CPI on Wednesday and PPI on Thursday, which could materially shift Federal Reserve expectations. Friday’s July jobs report showed a surprise 23,000 payroll decline, reducing expectations for a near-term rate increase. Bureau of Labor Statistics
Earnings today include Barrick Mining, Hims & Hers, Ferguson and Rocket Lab, with RKLB scheduled to report after the close. Later this week, traders are watching CoreWeave, Super Micro, Cisco and Applied Materials for further evidence on AI and semiconductor demand. Schwab Brokerage
EZZELDIN Setup for the Open
🟡 NEUTRAL → 🟢 BULLISH bias.
The broader trend remains constructive after Friday’s record S&P close, but I would not chase the first move. Oil and Hormuz headlines remain a source of sudden volatility. Reuters
For your first-5-minute opening-range approach, the key confirmation is straightforward: QQQ above the 9:30–9:35 high = bullish; below the opening low = bearish; inside the range = neutral.
For the bigger picture, QQQ holding $720 and then breaking $723.60–$724 with volume would favor continuation higher. A break below $716.50 would materially weaken the setup. On SPY, a sustained move through $774 favors bullish continuation; losing $769.60 would shift the near-term bias bearish. Investing.com
Market Pulse: 🟡 Neutral before confirmation — let the first 5-minute candle decide the trade.
