Stock Futures Higher as Earnings Roll In

Stock futures are higher this morning, with futures on the Dow Jones Industrial Average (DJI) up 62 points, after the blue-chip index's ninth-straight daily win. The latest batch of earnings reports are in focus today, while investors bracing for more volatility ahead of options expiration today. Elsewhere, oil prices are headed for their fourth-straight weekly gain. 

Continue reading for more on today's market, including: 

• Podcast: Inside the mind of an options trader on a hot streak. 
• Costco stock could add to its year-to-date lead. 
• Plus, 3 stocks moving after earnings today. 

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 2.4 million call contracts and over 1.4 million put contacts exchanged on Thursday. The single-session equity put/call ratio rose to 0.61 and the 21-day moving average remained at 0.65.
2. Scholastic Corp (NASDAQ:SCHL) stock is up 9.1% premarket, after the company's fiscal fourth-quarter profit beat, despite lower-than-expected revenue. Year-to-date, the equity is up 0.8% heading into today. 
3. CSX Corp (NASDAQ:CSX) stock is down 3.2% before the bell, after the railroad company's second-quarter revenue missed estimates. Plus, no fewer than three analysts slashed their price targets. Since the start of the year, CSX is up 8.8%. 
4. American Express Company (NYSE:AXP) stock is down 3.7% in electronic trading, after the cred card company kept its 2023 forecast unchanged following strong second-quarter results. Year-to-date, the equity is up 19.9%. 
5. See what is on tap for earnings and economic data next week.

Markets React to Japan's Latest Inflation Gauge

Asian markets were all over the place on Friday. Japan’s consumer price index (CPI) reading for June was in line with analysts’ estimates, rising from the previous month and above the Bank of Japan’s (BOJ) target of 2%. Investors were also unpacking chipmaker Taiwan Semiconductor Manufacturing’s (TSM) first decline in quarterly income in the last four years. Japan’s Nikkei paced the laggards with a 0.6% drop, while China’s Shanghai Composite settled slightly below breakeven with 0.06% loss. Elsewhere, Hong Kong’s Hang Seng added 0.8%, and South Korea’s Kospi rose 0.4%.

European markets are also mixed, as investors digest another batch of earnings reports before the weekend. Spain’s snap general election coming up this Sunday is also in focus, while in the U.K. the Conservative Party lost two seats in parliament to opposing parties. At last check, France’s CAC 40 and London’s FTSE 100 both sport 0.2% leads , while the German DAX is 0.6% lower.