The Dow is down around 100 points this morning
Futures on the Dow Jones Industrial Average (DJIA) are pointing toward a nearly 100-point drop, cooling off from a rally that saw the major benchmarks turn in a massive win yesterday evening. Elsewhere, S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also eyeing drops this morning. Earnings season is fully underway, with Netflix's (NFLX) mostly upbeat quarterly results out after last night's close, and Tesla (TSLA) set to report this evening. So far, signals on the state of the economy via corporate earnings have been mixed, and investors are preparing themselves for more clues as these reports roll in.
Continue reading for more on today's market, including:

5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.16 million call contracts and 686,784 put contracts traded on Tuesday. The single-session equity put/call ratio rose to 0.59, and the 21-day moving average inched up to 0.67.
- Netflix Inc (NASDAQ:NFLX) is 6.1% higher in electronic trading, after last night reporting earnings that beat Wall Street's estimates. Though revenue fell short of forecasts, subscriber losses were much slimmer than expectations, and the streaming staple said it would add a net 1 million new subscriptions this quarter. Year-to-date, NFLX is down 66.5%.
- Meanwhile, Cal-Maine Foods Inc (NASDAQ:CALM) is up 1% ahead of the open, following its quarterly report. The nation's largest egg producer reported top- and bottom-line beats for the fiscal fourth-quarter thanks to higher egg prices. In the last 12 months, CALM is up 50.4%.
- Biopharmaceutical concern Biogen Inc (NASDAQ:BIIB) is relatively unchanged following earnings. The equity was last seen down 0.07% ahead of the opening bell, after Biogen reported second-quarter earnings and revenue that topped forecasts. However, the company noted it is facing increased competition. BIIB sits 8.2% lower in 2022.
- Existing home sales data are due out today.

U.K. CPI Reading Hits 40-year High
Asian markets rose for the day, after China kept its one-year loan prime rate at 3.7%, and its five-year at 4.45%. Plus, Tuesday’s rally in the U.S. lightened investor spirits. Japan’s Nikkei led the gains with a 2.7% win, while Hong Kong’s Hang Seng followed behind with a 1.1% pop. Elsewhere, China’s Shanghai Composite added 0.8%, while the South Korean Kospi tacked on 0.7%.
In Europe, however, markets are currently inching lower midday. London’s FTSE 100 is down 0.2% at last check, after the U.K.’s consumer price index (CPI) rose 9.4% in June – a 40-year high as food and energy prices surge. Meanwhile, the French CAC 40 is down just 0.06%, while the German DAX falls 0.4%.