The U.S. Senate passed the $430 billion Inflation Reduction Act
Futures on the Dow Jones Industrial Average (DJI) are up 163 points before the bell, while S&P 500 Index (SPX) and Nasdaq-100 (NDX) futures are pointed higher as well, as investors await this week's inflation report. Wednesday's consumer price index (CPI) is expected to show a 8.7% drop for July, after June's 40-year high of 9.1%.
In the meantime, Wall Street is considering the Federal Reserve's next moves, after comments from Fed Governor Michelle Bowman hinting towards more rate hikes. In other news, the U.S. Senate passed the $430 billion Inflation Reduction Act, which is now headed for the House.
Continue reading for more on today's market, including:

5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.77 million call contracts traded on Friday, and over 1 million put contracts. The single-session equity put/call ratio rose to 0.58, and the 21-day moving average stayed at 0.68.
- Tyson Foods Inc (NYSE:TSN) is down 3.4% premarket, after the meat producer's fiscal third-quarter results. The company reported earnings of $1.94 per share -- 4 cents below analyst estimates -- alongside better-than-expected revenue, due to strong beef sales. Year-over-year, TSN is up 24.7%.
- Barrick Gold Corp (NYSE:GOLD) is up 2.6% before the bell, after the mining company's upbeat second-quarter results, which got a boost from copper output. Heading into today, GOLD is down 17.9% year-to-date, but the stock has found a recent floor at the $15 level on the charts.
- China-based tech stock Baidu Inc (NASDAQ:BIDU) is up 1.4% in electronic trading, after received approval to operate driverless taxi services in two cities. Year-over-year, BIDU remains down 16.9%.
- Today will bring the New York Federal Reserve three-year inflation expectations.

Stocks Mostly Higher Overseas
Asian markets mostly rose, with the exception of the Hong Kong Hang Seng, which dropped 0.8% after a weakening tech sector weighed on the index. Investors are also reacting to trade data out of China, which showed dollar-denominated exports logged an 18% year-over-year rise in July. In response, China’s Shanghai Composite rose 0.3%, South Korea’s Kospi added 0.09%, and Japan’s Nikkei tacked on 0.3%.
In Europe, stocks are also on the rise as investors eye last week’s strong jobs data over in the U.S., as well as a slew of corporate earnings reports. At last glance, the London FTSE 100 is 0.6% higher, the French CAC 40 has added 1%, and the German DAX has risen 0.8%.