Stock futures building on yesterday's rally, with tech stocks leading the charge. Futures on the Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) are indicating a triple-digit move higher, while S&P 500 Index (SPX) futures are pointed comfortably higher as well. The much-maligned software sector is higher across the board, with Oracle (ORCL) doing most of the heavy lifting. President Donald Trump's state of the union isn't doing much to move markets, with investors instead gearing up for the slew of tech titans -- Nvidia (NVDA) chief among them -- set to report in the next 24 hours.
- What rangebound trading means for the S&P 500.
- Nvidia earnings: Just how impactful are they?
- Plus, LOW's halo lift fades; CAVA up off the mat; and Workday stock moves deeper into the red.
5 Things You Need to Know Today
- The Cboe Options Exchange saw 1.9 million call contracts and roughly 1.2 million put contracts traded on Monday. The single-session equity put/call ratio slipped to 0.62, while the 21-day moving average remained at 0.59.
- Lowe’s Companies Inc (NYSE:LOW) stock is down 3.5% ahead of the open, after the home improvement retailer's disappointing full-year earnings outlook overshadowed a top-line beat for the fourth quarter. Lowe's stock is up 15.5% in 2026 and enjoyed a halo lift from Home Depot earnings yesterday.
- CAVA Group Inc (NYSE:CAVA) stock is 11.8% higher before the bell, after the Mediterranean restaurant chain's fourth-quarter earnings and revenue topped expectations. Four brokerages have hiked their price targets in response, with Cava stock set to open at its highest level since August.
- The shares of Workday Inc (NASDAQ:WDAY) are off by 10% in electronic trading, after the software company's margin estimates and subscription revenues for the first quarter came in lower than forecasted. Fourth-quarter earnings and revenue did top estimates, though. WDAY is set to open at its lowest level since 2020, and is already 39.3% lower in 2026 heading into today.
- A Fed speech, weekly jobs data, and Inflation data will close out the week.
Record Highs in Japan, South Korea as Tech Rally Spreads
Taking cues from the AI relief rally stateside, Asian markets moved higher, with South Korea’s Kospi adding 1.9% and Japan’s Nikkei tacking on 2.2% -- both hitting fresh records. A lift in Bitcoin (BTC) is also boosting sentiment. For the session, Hong Kong’s Hang Seng and China’s Shanghai Composite both added 0.7%.
European stocks are also sporting healthy gains, after President Trump's 10% tariff came into effect, as opposed to the threatened 15%. A large batch of earnings are also in the spotlight, including British spirits maker Diageo, which cut its 2026 profit and sales guidance. Meanwhile, Germany’s consumer confidence March expectations fell to -24.7, from February’s -24.2. At last check, London’s FTSE 100 is up 1% and both France’s CAC 40 and Germany’s DAX are 0.4% higher.
