Dow Jones Industrial Average Futures Signal Another New Record

Dow Jones Industrial Average (DJIA) futures are trading just above fair value, after the blue-chip index closed at a record high on Wednesday. Traders are digesting another round of corporate earnings reports, though post-earnings downside for American Express and Travelers shares could keep the Dow limited today. Nevertheless, it looks to be another positive session for U.S. stocks, with futures on the S&P 500 Index (SPX) and Nasdaq Composite (COMP) higher ahead of the bell -- putting the COMP on pace for a 10th straight win.
 
Continue reading for more on today's market, including:

• Apple stock is higher ahead of the bell, on track for its longest winning streak since 2010.
• The high-profile tech earnings due out tonight.
• Pre-earnings put buying has been popular on this red-hot retail stock.
• Plus, Sears gets an Amazon boost; the drug stock set to jump almost 20%; and key policy decisions from the BoJ and ECB.

1. The Chicago Board Options Exchange (CBOE) saw 1.01 million call contracts traded on Wednesday, compared to 569,726 put contracts. The single-session equity put/call ratio plunged to 0.56, and the 21-day moving average stayed at 0.62.
2. Sears Holdings Corp (NASDAQ:SHLD) said it will launch its Kenmore smart appliances on Amazon -- making them Alexa enabled and creating the largest distributor of the brand outside of Sears. The partnership has SHLD stock up 22% ahead of the bell, on track to open at its highest level since mid-May.
3. Sarepta Therapeutics Inc (NASDAQ:SRPT) unveiled second-quarter sales of $35 million -- easily beating the consensus call for $22.4 million in revenue. The drugmaker also lifted its full-year revenue guidance to between $125 million and $130 million, thanks to strong sales from its Duchenne muscular dystrophy (DMD) drug. A round of price-target hikes is only stoking the bullish flames, with SRPT stock up 19% in electronic trading, and could open at a year-to-date high.
4. T-Mobile US Inc (NASDAQ:TMUS) reported second-quarter profit of 67 cents per share on revenue of $10.21 billion -- stronger than what analysts were expecting. The wireless provider also said monthly phone subscribers grew by 786,000 in the quarter ended June 30, versus a consensus estimate of 607,000 net additions. TMUS stock is 4.1% higher in electronic trading.
5. Weekly jobless claims and the Philly Fed Business Outlook were released this morning, with the Fed's balance sheet on tap. A handful of earnings reports are also expected, including Microsoft (MSFT), Visa (V), Abbott Labs (ABT), athenahealth (ATHN), Blackstone (BX), Capital One Financial (COF), eBay (EBAY), Intuitive Surgical (ISRG), Nucor (NUE), Sherwin-Williams (SHW), Skechers (SKX), Skyworks Solutions (SWKS), and Union Pacific (UNP).

Overseas Trading

Stocks in Asia settled higher today. Tokyo led the charge after the Bank of Japan (BoJ) stayed the course on monetary policy and lowered its inflation forecasts through 2019, with the Nikkei advancing 0.6% as the yen backpedaled against the U.S. dollar. Traders also cheered better-than-forecast trade data for the island nation; both imports and exports topped expectations in June. By the close, South Korea's Kospi gained 0.5%, China's Shanghai Composite rose 0.4%, and Hong Kong's Hang Seng tacked on 0.3%.

European markets are also on positive ground at midday. Following suit with their Japanese counterparts, European Central Bank (ECB) policymakers opted to hold interest rates steady at zero, with no change to the asset purchasing program. At last check, the German DAX and London's FTSE 100 have gained 0.7% each, and the French CAC 40 is up 0.4%.