Futures tracking the S&P 500 and the Nasdaq fell on Wednesday as signs that U.S. tariff policies were clouding corporate outlooks and spurring inflation weighed on record-high markets.

Market Snapshot

At 8:00 a.m. ET, Dow E-minis were up 87 points, or 0.20%, U.S. S&P 500 E-minis were down 2.25 points, or 0.04%, and Nasdaq 100 E-minis were down 42 points, or 0.18%.

Pre-Market Movers

ASML - ASML tumbled 7% after the Dutch chip equipment manufacturer saidit couldn’t guarantee growth in 2026 because of uncertainty over tariffs. “We continue to see increasing uncertainty driven by macroeconomic and geopolitical developments,” Chief Executive Christophe Fouquet said. “Therefore, while we still prepare for growth in 2026, we cannot confirm it at this stage.” ASML’s warning came as the company reported second-quarter earnings, including orders of €5.54 billion ($6.44 billion) for its chip-making machines, down slightly from a year earlier but ahead of analysts’ targets.

Bank of America - Bank of America reported second-quarter earnings that were better than expected and the stock was rising 1.3%. Net income for the second quarter increased 3% from a year earlier to $7.1 billion. Net interest income rose 7% to $14.7 billion.

Goldman Sachs - Goldman Sachs' profit jumped 22% in the second quarter, as turbulent markets lifted equities trading revenue to a record and a pickup in dealmaking boosted investment banking. The shares gained 1.5% in premarket trading.

Morgan Stanley - Morgan Stanley's profit climbed as market volatility buoyed its trading desk, echoing second-quarter results among its Wall Street rivals. Shares of the bank were last flat following the results.

Johnson & Johnson - Johnson & Johnson rose 1.3% after second-quarter earnings and sales from the drug and medical device maker beat analysts’ estimates. J&J said it expects full-year sales of between $93.2 billion and $93.6 billion, an increase of between 5.1% and 5.6% from last year.

BTCS - BTCS, a company in the blockchain and cryptocurrency sector, soared 25% following its inclusion in the Russell Microcap Index.

BitMine - BitMine shares surged 20%. Billionaire venture capitalist and Palantir Technologies and PayPal co-founder Peter Thiel disclosed late Tuesday a 9.1% stake in BitMine which is building up its crypto holdings focusing on Ether. The company recently disclosed it had a total holding of 163,142 coins, worth over $500 million.

Crypto Stocks - Other crypto stocks jumped in premarket trading after Trump said key House members pledge to back GENIUS Act vote Wednesday. GameSquare rose 48%; SharpLink Gaming rose 15%; Upexi rose 8%; MARA Holdings rose 3%; Circle and Riot Platforms rose 2%; Strategy rose 1%.

Global Payments - Global Payments rose 5.3% following a report from the Financial Times that said hedge fund Elliott Management has established a large stake in the payments processing company. The size of Elliot’s stake couldn’t be determined, the report said. The stock has declined 31% this year. It reached a deal in April to acquire rival Worldpay for $24.25 billion.

Brighthouse Financial - Brighthouse Financial jumped 9.6% after The Wall Street Journal reported investment firm Aquarian Holdings was in exclusive talks to acquire the U.S. life insurance company. A deal could be completed in the coming weeks, the Journal reported, citing people familiar with the matter.

Market News

Trump Says Key House Members Pledge to Back GENIUS Act Vote Wednesday

U.S. President Donald Trump said the Guiding and Establishing National Innovation for U.S. Stablecoins ("GENIUS") Act will pass early Wednesday morning.

"I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule," Trump wrote in his Truth Social post.

Earlier today, the US House failed to move forward with voting on the GENIUS Act, alongside the CLARITY crypto legislation.

The House is scheduled to vote again on the bills at 12:20 p.m. on Wednesday.

ASML Warns It May Not Achieve Growth in 2026

ASML, the world's biggest supplier of computer chip-making equipment, on Wednesday warned that it may not achieve growth in 2026, even after its second quarter bookings beat market expectations.

Analysts had hoped that the quarter would provide some reassurance over its outlook for 2026. However, the company warned that geopolitical uncertainty continued to cloud its prospects.

"The level of uncertainty is increasing, mostly due to macroeconomic and geopolitical consideration. And that includes, of course, tariffs", ASML's chief executive Christophe Fouquet said in an internal interview published on the company's website.