U.S. Premarket Movers: Amazon Kicks Off Prime Day, Tesla Rebounds, Solar Stocks Slump
Summary
U.S. stock futures were mixed premarket, driven by corporate news despite trade tensions. Amazon gained on Prime Day launch, Tesla rebounded slightly, and Oracle rose on an analyst upgrade. Robinhood also saw gains on European regulatory talks. Conversely, solar stocks Enphase and SolarEdge slumped due to a proposed repeal of tax credits, while JPMorgan and Goldman Sachs were downgraded by HSBC. Ciena also fell on an analyst downgrade.
U.S. Premarket Movers: Amazon Kicks Off Prime Day, Tesla Rebounds, Solar Stocks Slump
Publication Date: 2025-07-08 11:36:25
U.S. stock futures displayed a mixed performance on Tuesday, as market participants digested the latest developments in President Donald Trump's ongoing trade negotiations. While broader tariff tensions continued to simmer, early trading sentiment was primarily driven by company-specific catalysts.
As of 06:30 ET, Dow Jones Futures saw a slight dip of 0.1%, S&P 500 Futures remained flat, and Nasdaq 100 Futures posted a gain of 0.2%.
Below is a detailed breakdown of the top premarket U.S. stock movers:
Gainers
1. Amazon (NASDAQ:AMZN) | +0.3%
Amazon shares experienced a modest uptick following the commencement of its extended four-day Prime Day event. Analysts at Adobe Analytics project U.S. consumers to spend a substantial $23.8 billion during the event, representing a significant 28.4% year-over-year surge in digital spending. The prolonged event format is anticipated to drive robust conversion rates, particularly among younger Prime members.
2. Tesla (NASDAQ:TSLA) | +0.9%
Tesla shares showed a slight rebound after a sharp decline on Monday. Investor concerns stemming from CEO Elon Musk's launch of the "America Party" were partially mitigated by bargain-buying activity. However, policy headwinds remain a significant concern, especially with the recently enacted "Big, Beautiful Bill" potentially impacting EV tax credits and regulatory incentives.
3. Oracle (NYSE:ORCL) | +1.2%
Oracle recorded gains after Jefferies raised its price target, citing a "clear glide path from mega-deals to revenue acceleration." Investor focus continues to be on the company's AI integration strategies and sustained cloud growth momentum.
4. Robinhood (NASDAQ:HOOD) | +0.8%
Robinhood's stock rose as CEO Vlad Tenev confirmed ongoing regulatory discussions in Europe concerning the platform's tokenized equities feature. Despite scrutiny from entities like OpenAI, Robinhood intends to expand this feature globally.
Decliners
5. Enphase Energy (NASDAQ:ENPH) | -3.0%
6. SolarEdge Technologies (NASDAQ:SEDG) | -5.3%
Both solar energy stocks experienced sharp declines following President Trump's executive order aimed at repealing solar and wind tax credits. This policy change is expected to significantly slow new project investments within the renewable energy sector.
7. JPMorgan Chase (NYSE:JPM) | -0.3%
8. Goldman Sachs (NYSE:GS) | -0.4%
HSBC downgraded both major banks from "hold" to "reduce," citing limited upside potential amidst policy uncertainty and weak forward yield curve expectations.
9. Ciena (NYSE:CIEN) | -3.4%
Ciena's stock fell after Morgan Stanley downgraded it to "underweight." The downgrade highlighted concerns regarding margin stagnation and slow top-line growth within the optical networking segment.
Final Take
Despite prevailing global trade risks and political noise, investor attention remains firmly focused on corporate execution, the performance of macro-sensitive sectors, and innovation-led growth opportunities. The evolving regulatory landscape, encompassing everything from renewable energy incentives to tokenized securities, introduces an additional layer of complexity for stock pickers navigating the current market environment.