Dow and Nasdaq futures are up over 600 and 300 points, respectively
Stock futures are building on their strong start to August, as investors cheer the latest batch of upbeat earnings. After the blue chip index nabbed a record close last night, Dow Industrial Average (DJIA) futures are up 669 points, while futures tied to the Nasdaq-100 (IXIC) are indicating a greater than 300-point pop. Upbeat earnings from Caterpillar (CAT) and Palantir Technologies (PLTR) are driving investor sentiment, while front-month oil prices slink back below $80/barrel. Treasury Secretary Scott Bessent gave markets a jolt after telling CNBC's Squawk Box that the Strait of Hormuz may be opened this week.
Continue reading for more on today's market, including:
- Senior V.P. of Research Todd Salamone on the S&P 500's rangebound trading.
- Get acquainted with today's jobs report and what it could mean.
- Plus, two Dow earnings in focus; and Snapchat surging on revenue beat.
5 Things You Need to Know Today
- The Cboe Option Exchange saw roughly 2.9 million call contracts and 1.6 million put contracts traded on Monday. The single-session equity put/call ratio dropped to 0.55, while the 21-day moving average remained at 0.58.
- McDonald's Corp (NYSE:MCD) stock is 0.9% higher ahead of the bell, after the company reported second-quarter earnings and revenue that topped analyst estimates. MCD is up 14% in 2026, but not far off its July 23 52-week low of $260.96.
- Merck & Co Inc (NYSE:MRK) stock is up 1% before the open, after the drugmaker's slimmer-than-expected second-quarter loss was accompanied by a hiked third-quarter guidance. Merck stock boasts a 21.3% year-to-date gain.
- The shares of Snap Inc (NYSE:SNAP) are 5% higher in electronic trading, after the Snapchat parent's second-quarter revenue beat expectations. Global daily active users also topped estimates. SNAP is down 37.5% for 2026 heading into today.
- Take note of these 10 stocks reporting earnings this week.
European Bourses Nab Record High
Asian markets settled mostly higher today. Japan's Nikkei 225 edged up 0.3% as traders continued to monitor the aftereffects of recent U.S.-Japan currency interventions, while the South Korean Kospi added 1.6% despite continued volatility in the semiconductor sector. Elsewhere, China’s Shanghai Composite added 0.3%, and Hong Kong’s Hang Seng fell 0.6%.
European markets are higher across the board, with the pan-European STOXX 600 index (STOXX) touching a record high amid oil prices and technology gains. London’s FTSE 100 was last seen up 0.5%, while the French CAC 40 and German DAX rise 0.4% and 0.9%, respectively.