Stock Futures Softly Lower as Retail Earnings Roll In

Stock futures are indicating another quiet open this morning, as investors await the U.S. Federal Reserve's latest meeting minutes due out at 2 p.m. ET. Nasdaq-100 Index (NDX) futures are showing the steepest losses, down 61 points, while futures on the Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) sit just below fair value. Despite the lackluster price action, there are plenty of retail earnings to unpack this morning, including reports from Lowe's (LOW), Target (TGT), and TJX (TJX). 

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

• Consumer strength indicator to watch, per Schaeffer's Senior Quantitative Analyst Rocky White. 
• Checking in with Walmart stock ahead of earnings. 
• Plus, HTZ jumps on AMZN partnership; and two retail earnings to analyze.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw over 2.1 million call contracts and more than 1.2 million put contracts traded on Tuesday. The single-session equity put/call ratio came in at 0.59, while the 21-day moving average stayed at 0.59.
2. Hertz Global Holdings Inc (NASDAQ:HTZ) is up 8.3% premarket, after news that the rental car company has partnered with Amazon Autos, bringing its inventory of used cars to the online platform. Heading into today, HTZ is up 42% year-to-date. 
3. T.J. Maxx parent TJX Companies Inc (NYSE:TJX) was last seen up 5.2% in premarket trading, after the company reported better-than-expected second-quarter results and lifted its annual profit forecast. Since the start of the year, the stock is up 11.4%, coming into today. 
4. Target Corp (NYSE:TGT) is brushing off upbeat second-quarter results, after news that COO Michael Fiddelke is replacing CEO Brian Cornell, starting February 1. TGT is down 10.5% in electronic trading, looking to add to its 22.1% year-to-date deficit. 
5. This week will bring plenty more earnings and economic data.

U.K. Inflation Rises

Asian markets were mixed on Tuesday, with Japan’s Nikkei dropping 1.5%, weighed down by the country’s bigger-than-expected decline in exports for July, which also marked the worst drop in four years. South Korea’s Kospi slipped 0.7% as its tech sector continued to see cracks. China saw more positive results, however, with the Shanghai Composite adding 1%, while Hong Kong’s Hang Seng gained 0.2%, boosted by toy maker Pop Mart’s global Labubu doll craze.

European markets also saw mixed results to start off the day. London’s FTSE 100 is leading the way with a 0.6% rise, holding firm despite a higher-than-expected U.K. inflation reading for July. France’s CAC 40 is sporting a 0.2% gain, while Germany’s DAX is down 0.4% as defense stocks continue to suffer from the optimism surrounding President Donald Trump’s meeting with Ukrainian President Volodymyr Zelenskyy and other European leaders.