Dow, S&P 500 Futures on the Move as Oil Cools

Stock futures are mostly pointed higher today, as lower oil prices and upbeat wholesale inflation data prop up investor sentiment. Futures on the Dow Jones Industrial Average (DJI) are up triple digits, while S&P 500 Index (SPX) futures are confidently higher, as crude futures move 2% lower.

Nasdaq-100 (NDX) futures are toeing the flatline as the tech sector reacts to some lackluster post-earnings reactions from Cisco Systems (CSCO) and Coherent (COHR). Another inflation data point will be the focal point today, after July's producer price index (PPI) landed flat, below the 0.2% expectations.

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

• AI infrastructure stock to watch today.
• From our Substack: Hot streaks and their sustainability.
• Plus, struggling space and drone stocks; YETI cools off from multi-year high.

5 Things You Need to Know Today

1. The Cboe Option Exchange saw roughly 2.2 million call contracts and 1.4 million put contracts traded on Wednesday. The single-session equity put/call ratio slid to 0.61, while the 21-day moving average remained at 0.58. 
2. Intuitive Machines (NASDAQ:LUNR) stock is 9.6% lower ahead of the bell, after the space company reported a second-quarter loss and revenue that whiffed on expectations. LUNR is set to breach its year-to-date breakeven level today but is still up 62% in 2026.
3. Ondas Holdings Inc (NASDAQ:ONDS) stock is down 4.4% before the open, even after the drone maker hiked its full-year revenue outlook and record backlog growth. Instead, a wider-than-expected second-quarter loss is weighing. Ondas stock is also set to breach its year-to-date breakeven level, after already having doubled in value in the last 52 weeks.
4. Yeti Holdings Inc (NYSE:YETI) stock is 5.6% lower in electronic trading, with a revenue miss overshadowing a second-quarter earnings beat and hiked guidance. YETI is up 15% heading into today and hit a four-year high of $53.99 on Aug. 5. 
5. Tech earnings highlight another busy week on Wall Street.

Chip Rally Fuels Asian Markets

Asian markets finished mixed on Thursday as regional chip stocks rallied following tame U.S. inflation data. South Korea's Kospi jumped 3.6%, led by gains in SK Hynix and Samsung Electronics, while Japan's Nikkei rose 1.2%. Meanwhile, China's Shanghai Composite fell 0.5% and Hong Kong's Hang Seng slipped 0.2%.

European markets are also trading on both sides of the aisle, as investors digest fresh U.K. gross domestic product (GDP) data. Britain's economy grew 0.4% in June after being flat in May, though London's FTSE 100 is down 0.3%, as mining stocks come under pressure. At last check, Germany's DAX is up 0.4%, while France's CAC 40 has added 0.1%.