Futures on the S&P 500 Index (SPX), Nasdaq-100 Index (NDX), and Dow Jones Industrial Average (DJI) are all moving comfortably higher to kick off a fresh week, as investors react to updates between the U.S. and Iran. Despite a ninth day of strikes from the U.S., an Iranian spokesperson said negotiations were ongoing.
In response, West Texas Intermediate (WTI) futures pivoted back below $83. Tech stocks -- specifically semiconductors -- are bouncing back from last week's steep selloff, with Micron Technology (MU) leading the charge.
Continue reading for more on today's market, including:
- Just how important are round numbers to stocks?
- Why Intel stock looks like a great buy for bulls.
- Plus, Domino's earnings; SpaceX's new launch date; and another data center lease to unpack.
5 Things You Need to Know Today
- The Cboe Option Exchange saw roughly 3 million call contracts and 2.2 million put contracts traded on Friday. The single-session equity put/call ratio rose to 0.73, while the 21-day moving average remained at 0.58.
- Domino's Pizza Inc (NASDAQ:DPZ) stock is surging 6.8% before the bell, the company brushing off a Q2 earnings miss thanks to better-than-expected revenue and encouraging growth comments from the CEO. DPZ has been fighting overhead pressure at the descending 80-day moving average and a 22% year-to-date deficit.
- Space Exploration Technologies Corp (NASDAQ:SPCX) stock is climbing 1% in electronic trading, after announcing its rescheduled rocket launch date following last week's failed mission. SPCX logged a sixth-straight drop Friday and has shed nearly 30% since the start of the month.
- Hut 8 Corp (NASDAQ:HUT) stock is up 15.5% in premarket trading, after the company signed a new 15-year lease to commercialize its 1 gigawatt Texas data center. HUT has been pulling back from its June highs, but has still nearly doubled in value since the start of the year.
- Expect a fresh batch of big name earnings this week.
Asian Stocks Close Mixed Amid Regulatory Efforts
Asian markets closed on both sides of the aisle Monday. China's securities regulator chief met with investors and pledged "all efforts" to maintain stable market operations, following the sharp selloff over the past two weeks. The Hang Seng index led regional gains, having added 2.4%, while China’s Shanghai added 0.9%. Elsewhere, Japan’s Nikkei dropped 4%, while the South Korean Kospi lost 4.5%.
European bourses are also mixed as traders juggle rising crude, middle east tensions, and inflation fears ahead of tech earnings. At last glance, London’s FTSE is off 0.3%, France’s CAC is up 0.4%, and Germany’s DAX is 0.2% higher.