Stock Futures Shift Higher as Oil Prices Fall

Stock futures are on the rise this morning, with Dow Jones Industrial Average (DJI) and Nasdaq-100 Index (NDX) futures up triple digits, while the S&P 500 Index (SPX) sits modestly higher as well. A decline in oil prices is helping sentiment, with July-dated West Texas Intermediate (WTI) crude last seen down 2.4% at $101.67. Looking ahead, investors will be monitoring the Fed's latest meeting minutes, due out at 2 p.m. ET, and Nvidia's (NVDA) earnings report, due out after the close. 

• What the rapid sentiment shift means for stocks, per Schaeffer's Senior Quantitative Analyst Rocky White. 
• Satellite stock flashing a historically bullish signal. 
• Plus, a look at this morning's most notable earnings. 

5 Things You Need to Know Today

1. The Cboe Options Exchange saw more than 2 million call contracts and 1.1 million put contracts traded on Tuesday. The single-session equity put/call ratio rose to 0.56, while the 21-day moving average stayed at 0.59.
2. Target Corp (NYSE:TGT) is up 1.4% premarket, after better-than-expected first-quarter results and a raised outlook. Coming into today, the equity is up 30.2% year to date and should these gains hold, TGT will be eyeing a third-straight daily pop.
3. Toll Brothers Inc (NYSE:TOL) is also enjoying post-earnings tailwinds, last seen up 3.1% before the bell, after the homebuilding name's fiscal second-quarter earnings and revenue topped estimates. TOL is down 8.2% since the start of the year. 
4. Shares of Lowe's Companies Inc (NYSE:LOW) are down 1.8% in electronic trading, brushing off a first-quarter earnings and revenue beat. The company also reaffirmed its full-year guidance, and CEO Marvin Ellison acknowledged a “challenging housing macro.” LOW is down 9.5% in 2026. 
5. Plenty of economic data due out later in the week. 

Iran Tensions Weigh on Asian Markets

Asia-Pacific markets fell Wednesday as elevated bond yields and Iran tensions weighed on sentiment, after Trump said Tuesday he was “an hour away” from ordering a strike on Iran before postponing the decision by a few days. Japan’s Nikkei dropped 1.2% as bond yields remained in focus, with the 30-year JGB easing slightly but the 5-year tapping a record of 2.041%. Elsewhere, South Korea’s Kospi fell 0.9%, Hong Kong’s Hang Seng slid 0.6%, and China’s Shanghai shed just 0.2%.

European stocks are higher Wednesday as traders assess a lower-than-expected U.K. inflation print amid ongoing concern over elevated bond yields. Germany’s DAX is up 0.5%, France’s CAC 40 is 0.7% higher, and London’s FTSE 100 sports a 0.2% gain.