Stock Futures Scattered as Tech Stays Strong

Stock futures are a mixed bag to end the week, with Wall Street unable to build some separation from record closes and a double dose of encouraging inflation data. Futures on the Dow Jones Industrial Average (DJI) are down 69 points, while S&P 500 Index (SPX) futures are toeing the flatline. Nasdaq-100 (NDX) futures are pointed confidently higher, brushing off a post-earnings selloff from Apple supplier Applied Materials (AMAT). Elsewhere, retail sales for July fell by 0.6%, well below the expected 0.1% rise.

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

• These 20 stocks could burn short sellers.
• From our Substack: Hot Streak Sustainability.
• Plus, Reddit gets the SPX nod; Workday cools off; and drone stocks buzz.

5 Things You Need to Know Today

1. The Cboe Option Exchange saw roughly 2.6 million call contracts and 1.5 million put contracts traded on Thursday. The single-session equity put/call ratio slid to 0.59, while the 21-day moving average remained at 0.59. 
2. Reddit Inc (NYSE:RDDT) stock is up 12% before the open, after it was announced the social media forum would join the S&P 500 effective Aug. 18. Reddit stock is down 31% in 2026.
3. Workday Inc (NASDAQ:WDAY) stock is 0.5% lower ahead of the bell. The HR software giant is cooling off from the 17.8% pop yesterday stemming from a Reuters report that private equity firm Silver Lake was in talks to buy the company. Workday stock is briefly cleared but ceded its year-to-date breakeven level yesterday.
4. The shares of Red Cat Holdings Inc (NASDAQ:RCAT) are 10.9% higher in electronic trading. All U.S.-based drone companies are higher after the Trump administration signed a proclamation imposing tariffs up to 100% on imported drones. Red Cat stock is 29% higher on the year going into today.
5.  Tech earnings highlight another busy week on Wall Street.

Kospi Jumps as Rate-Cut Fears Subside

Asian markets finished mostly higher on Friday after tame U.S. inflation data eased concerns over near-term Federal Reserve interest rate hikes. South Korea's Kospi jumped 2.4%, extending this week's tech-driven rally, while Japan's Nikkei added 0.6%, and China's Shanghai Composite inched up 0.01%. Elsewhere, Hong Kong's Hang Seng slipped 1.1%.

European markets are trading mixed as investors digest euro zone data showing the economy grew 0.4% in the second quarter, while employment increased 0.1%, both in line with expectations. London's FTSE 100 is little changed, down 0.01% and on track for its first weekly decline in five as mining stocks dip. Meanwhile, Germany's DAX has added 0.9%, while France's CAC 40 is marginally higher.