Dow Futures Pop 200 Points as Disney Earnings Impress

Stock futures appear ready to extend their August rally another day. Thanks to a blowout report from Walt Disney (DIS), Dow Industrial Average (DJIA) futures are indicating another triple-digit pop this morning. S&P 500 Index (SPX) and Nasdaq-100 (NDX) futures are also pointed to higher albeit less confident opens, with tech stocks staring down selloffs from Advanced Micro Devices (AMD) and SpaceX (SPCX). Elsewhere, the ADP employment report showed only 44,000 private jobs added in July, sharply below expectations.

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

• Senior Quantitative Analyst Rocky White identifies the options trade to use now.
• Software stocks could keep up the momentum.
• Plus, more on SpaceX, AMD; and a software stock staying hot.

5 Things You Need to Know Today

1. The Cboe Option Exchange saw roughly 2.9 million call contracts and 1.6 million put contracts traded on Tuesday. The single-session equity put/call ratio dropped to 0.55, while the 21-day moving average remained at 0.58. 
2. Space Exploration Technologies Corp (NASDAQ:SPCX) stock is down 11% before the open, after the company's capital expenditures rose 550% year-over-year, overshadowing record revenue. SpaceX stock is down 44% from its June highs.
3. Advanced Micro Devices Inc (NASDAQ:AMD) stock is 7% lower ahead of the bell. While the chipmaker reported second-quarter earnings and revenue that topped forecasts, third-quarter guidance was only in-line. Despite the price action, no fewer than 10 brokerages have hiked their price targets this morning, the best coming from Wells Fargo to $700. AMD stock is up 142% year to date heading into today.
4. The shares of Arista Networks Inc (NYSE:ANET) are up 12% in electronic trading, after the software company reported a beat-and-raise for the second quarter. The event prompted already 11 analysts to up their price target. ANET is up 45.3% in 2026 heading into today.
5. Take note of these 10 stocks reporting earnings this week.

Asian Markets Join in on the August Fun

Taking a cue from Wall Street’s record-setting session, Asian markets closed broadly higher on Wednesday. The South Korean Kospi led the gains with a 3.8% pop, fueled by semiconductor stocks, including SK Hynix. Japan’s Nikkei followed closely behind with a 3.7% win, while China’s Shanghai Composite rose 1.5%, and Hong Kong’s Hang Seng added 0.2%.

European markets are mixed today, while July services purchasing managers' index (PMI) data showed improving business activity. The U.K.'s services PMI rose to 52.1 from 48.8, while Germany's services PMI improved to 49.8 from 48.6, though it remained in contraction territory. France's CAC 40 was last seen up 0.07%, Germany's DAX added 0.2%, while London's FTSE 100 slipped 0.2%.