🌅 Today's Morning Call
S&P Futures
7,763.50
▲ +37.25 (+0.48%)
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Nasdaq Futures
30,686.00
▲ +248.50 (+0.82%)
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Dow Futures
51,961.00
▲ +249.00 (+0.48%)
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10Y Treasury
5.24%
▲ +0.06%
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US Dollar
101.30
▲ +0.02 (+0.02%)
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Bitcoin
$84,272
▲ +$815 (+0.98%)
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Data as of 8:09 AM ET
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Good morning! Happy Tuesday. Futures are pointing higher across the board this morning, with the Nasdaq leading the charge as tech shakes off any jitters. Energy headlines and a fresh earnings beat are setting the early tone. Here's your morning rundown.
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👀 What to Watch Today Earnings are back in focus after CarMax (KMX) kicked things off with higher profit and sales, selling more vehicles at higher prices. That report gives a useful read on the consumer heading into the fall stretch, so watch how the auto retail space trades around it.
Energy will command attention today. IEA chief Fatih Birol said member states may discuss releasing more strategic oil reserves if needed, while Lufthansa (DLAKY) warned its jet fuel bill could top the 1.5 billion euro forecast as the Iran conflict keeps oil elevated. Airlines and refiners are worth a look.
Also keep an eye on Treasury yields, with the 10-year ticking up to 5.24%. Rising rates could pressure rate-sensitive corners even as broad futures point green.
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🌏 Overnight Recap Across the pond, Marks and Spencer (MAKSY) grabbed headlines with a new partnership bringing LVMH-owned Sephora products to its stores and website, a clear push deeper into beauty. It's a notable retail story as the sector fights for foot traffic.
In aerospace, Airbus (EADSY) completed the maiden flight of its delayed A350F freighter, a direct shot at Boeing's grip on the air cargo market. Meanwhile Shell (SHEL) and partners approved LNG Canada's Phase 2 expansion in British Columbia, a multibillion-dollar bet that doubles export capacity to 28 million tonnes.
Oil stayed front and center overnight as Middle East supply concerns persisted, though reports of rebounding exports offered some counterweight to the pressure.
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📊 Pre-Market Movers uniQure (QURE) is the name to watch on the downside. Its Huntington's therapy showed a 44% slowing of disease progression but failed to reach statistical significance in an early to mid-stage trial, the kind of miss that tends to trigger sharp biotech swings.
CarMax (KMX) heads the other direction after posting higher profit and sales, with stronger volumes and pricing giving the used-car retailer a tailwind into the open.
Watch General Motors (GM) too, after a union official said the automaker is building roughly 75% fewer Chevy Bolt EVs than planned following the pullback of federal EV support. Stellantis (STLA) could catch a bid after regulators closed their probe into more than one million Chrysler vehicles.
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🔍 Today's Watchlist
- CarMax (KMX) after its profit and sales beat: watch for a read-through to used-auto demand.
- Oil prices and airline names like Lufthansa (DLAKY) as jet fuel costs threaten to top forecasts.
- Biotech reaction to uniQure (QURE) after its Huntington's trial missed statistical significance.
- The 10-year Treasury yield at 5.24% and its pull on rate-sensitive sectors.
- Energy majors including Shell (SHEL) following the LNG Canada Phase 2 approval.
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🎯 The Morning Playbook With futures broadly higher and the Nasdaq leading, the early bias favors risk-on, but don't ignore the energy backdrop. Elevated oil and rising yields are the two crosscurrents that could flip the mood, so keep airlines and rate-sensitive names on a short leash.
Earnings from CarMax offer a clean consumer signal, while the LNG Canada approval and Airbus milestone highlight where long-term capital is flowing. Use single-stock catalysts like QURE and KMX to gauge how much conviction traders really have.
Stay nimble, respect the oil story, and let the data guide you. It's a setup that rewards patience over chasing.
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