[Today's Market Preview] U.S. July Non-Farm Payroll Data is Coming! Trump "Reciprocal Tariffs" Released

mitrade
2025.08.01 10:00
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Today's Market Outlook: The three major stock index futures are down, with NVIDIA's stock price falling over 2%. The U.S. non-farm payroll report for July will be released tonight at 20:30, with the market expecting an increase of 110,000 jobs. Trump's "reciprocal tariffs" will take effect on August 7, and Bitcoin has fallen below $115,000. Apple's earnings report exceeded expectations, while Amazon's performance guidance is weak. The British pound has fallen against the U.S. dollar for the seventh consecutive trading day, with the market anticipating an imminent interest rate cut

Investment Insights - Here are today's five major financial events:

  1. Three major stock index futures decline, Nvidia's stock price drops over 2%!

Before the opening of the U.S. stock market on August 1, three major stock index futures fell. As of 5:57 AM Eastern Time, Dow Jones futures were down 0.85%, S&P 500 futures were down 0.85%, and Nasdaq 100 futures were down 0.94%.

Popular stocks generally declined, with Nvidia (NVDA) down 2.31% and Tesla (TSLA) down 1.09%. Figma (FIG) surged again by 10% in pre-market trading, after soaring 250% on its first day of trading yesterday.

  1. U.S. July non-farm data is coming! A big market movement is imminent?

At 8:30 PM tonight, the U.S. will release the July non-farm employment report. The market generally expects that 110,000 new jobs will be added in July, down from the previous value of 147,000. The unemployment rate is expected to rise from 4.1% to 4.2%.

Analysts point out that if the non-farm data exceeds expectations, it may force the Federal Reserve to continue delaying interest rate cuts, which would benefit the U.S. dollar and negatively impact gold prices. Conversely, if the non-farm data falls short of expectations, market expectations for a rate cut by the Federal Reserve in September will rise, putting pressure on the U.S. dollar and benefiting gold.

  1. Trump's "reciprocal tariffs" announced, Bitcoin falls below $115,000

The White House announced an adjusted "reciprocal tariffs" rate table, which will take effect on August 7. Market risk aversion sentiment is rising.

Bitcoin briefly fell below $115,000, and as of the time of writing, it was at $115,195. Analysts indicate that BTC is currently facing dual pressures: on one hand, the risk aversion sentiment brought by tariffs, and on the other hand, profit-taking after reaching a historical high earlier this year.

  1. Apple's earnings report exceeds expectations, Amazon's performance guidance is weak

Apple (AAPL) rose over 2% in pre-market trading, with the company's Q3 revenue achieving the highest growth rate in three and a half years. Amazon (AMZN) fell over 7% in pre-market trading, with the company's Q3 performance guidance being weak.

Analysts warn to be cautious as U.S. stocks may face profit-taking in August. Historical data shows that after experiencing a similar surge in July, August tends to become difficult.

  1. British pound exchange rate declines for seven consecutive days, market expects rate cut imminent

The British pound against the U.S. dollar (GBP/USD) has fallen for the seventh consecutive trading day, down 0.41% as of the time of writing, at 1.3145.

The market expects the Bank of England to lower the benchmark interest rate again at the monetary policy meeting on August 7, from 4.25% to 4.0%. This easing tendency continues to weigh on buying interest for the British pound

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