Futures on all three major benchmarks are higher after the Memorial Day holiday
Stock futures are on the rise after the long weekend as Treasury yields continue to ease. Investors are watching conflicting U.S.-Iran developments, as new attacks by the U.S. on two ships in Iran and Iran's threats of retaliation followed President Donald Trump's Monday comments that talks were "proceeding nicely." Futures on the Dow Jones Industrial Average (DJI) and Nasdaq-100 Index (NDX) are up triple digits this morning after the former's Friday record close, while S&P 500 Index (SPX) futures sit modestly higher as well.
Continue reading for more on today's market, including:
- A 5-minute recap of last week's market.
- How to gauge earnings movement with the options chain.
- Plus, Ferrari stock backpedals; upgrade boosts Lear shares; and AZO enjoys a post-earnings pop.
5 Things You Need to Know Today
- The Cboe Options Exchange saw more than 3.2 million call contracts and 1.7 million put contracts traded on Friday. The single-session equity put/call ratio came in at 0.55, while the 21-day moving average stayed at 0.59.
- Ferrari NV (NYSE:RACE) is down 2.8% premarket, looking to extend Friday's 6.2% loss after the company unveiled the Luce, its first fully electric car. On the charts, RACE has been bouncing between the $380 and $320 region this year, down 5.7% in 2026.
- Lear Corp (NYSE:LEA) is up 2% before the bell, after TD Cowan upgraded the stock to "buy" from "hold," with a price-target hike to $165 from $138. The firm cited momentum in the company's growth. Year to date, the equity is up 22%.
- Shares of AutoZone Inc (NYSE:AZO) are off 5.3% in electronic trading, brushing off better-than-expected fiscal third-quarter earnings. The company posted a revenue miss as well as disappointing international growth. Should these losses hold, the stock will slip into the red for 2026.
- Plenty of economic data is scheduled for this week.
Kospi Hits Record High
Asian markets finished mostly lower Tuesday, as investors held out for a U.S.-Iran resolution. South Korea’s Kospi was the only exception for today’s losses, touching a record high and finishing with a 2.6% gain. Japan’s Nikkei pulled back from clearing 65,000 for the first time ever and shed 0.3%, as Bank of Japan (BoJ) officials weigh effective dates for an interest rate hike. Elsewhere, China’s Shanghai lost 0.2% while Hong Kong’s Hang Seng fell flat.
European bourses are trading mixed Tuesday amid geopolitical uncertainty. At last look, Germany’s DAX is off 0.6%, France’s CAC is down 0.9%, and London’s FTSE 100 is up 0.5%