Stock futures are looking to capitalize on the broader market's rally
The Dow Jones Industrial Average (DJI) could erase its 2020 losses, as stock futures rose this morning amid Wall Street's attempt to capitalize on its record-breaking rally. In fact, futures on the blue-chip index are up around 150 points already, marking a nifty comeback from coronavirus lows after the Federal Reserve announced an extension to steady interest rates. Meanwhile, S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are both set to open marginally higher as well, a session removed from the former flirting with the 3,500 level. Elsewhere, consumer spending added 1.9% last month, while U.S. personal income for July rose 0.4% -- higher than the expected 0.2% fall -- after dropping 1% a month earlier.
Continue reading for more on today's market, including:

5 Things You Need to Know Today
- The Cboe Options Exchange
(CBOE) saw over 1.7 million call contracts traded on Thursday, and 642,253 put
contracts. The single-session equity put/call ratio fell to 0.38, and the
21-day moving average fell to 0.45.
- Coca-Cola Co (KO) is up 1.1% in pre-market trading, after announcing a restructuring plan, which will include voluntary and involuntary job cuts. According to the company, voluntary layoff packages will be offered to those who qualify, beginning with around 4,000 employees in the U.S., Canada, and Puerto Rico.
- Discount retailer Big Lots, Inc. (NYSE:BIG) announced second-quarter earnings and revenue that bested Wall Street's forecasts. Additionally, comparable-store sales were up over 30%, also beating estimates, and the company announced a $500 million stock buyback program. Despite this, BIG down 1.7% before the open.
- Citigroup initiated coverage on Kellogg Company (NYSE:K) with a "buy" rating, citing an expected improvement in market share and the lagging performance of its stock this year. The firm hit K with a price target of $79, and as a result Kellogg stock is up 0.2% ahead of the bell.
- Notable economic data lined up for the day includes data on core inflation, and consumer sentiment, while the Chicago purchasing managers index (PMI) will also be reported on. Meanwhile, Campbell Soup (CPB), and Hibbett Sporting (HIBB) will toss their hats in the earnings ring to end the week.

Asian Markets Higher After Fed Policy Decision; European Markets Mixed on GDP News
Asian markets were mostly higher after today’s session, digesting the U.S. Federal Reserve Policy. The only outlier, Japan’s Nikkei, dropped 1.4%, after surprise news that the country’s prime minister, Shinzo Abe, is stepping down due to health concerns. Elsewhere, China’s Shanghai Composite led gains with a 1.6% win, Hong Kong’s Hang Seng added 0.6%, and South Korea’s Kospi tacked on 0.4%.
Stocks in Europe are mixed at midday. The French CAC 40 is up 0.1%, amid reports that the country’s second-quarter gross domestic product (GDP) came in at -13.8%, while household consumption rose 0.5% in July from June. Meanwhile, London’s FTSE 100 is up 0.09%, and the German DAX is down 0.06%.