Stock Futures Slide as Oil Prices Extend Rally

Stock futures are lower this morning as escalating tensions between the U.S. and Iran weigh on investor sentiment and pushed crude prices higher. Futures on the Dow Jones Industrial Average (DJI) are down more than 300 points, while the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are firmly lower as well.

Brent crude topped $100 per barrel for the first time since July, after Iran said it attacked 10 ships near the Strait of Hormuz in retaliation for the U.S. sinking five Iranian oil tankers in the Gulf of Oman. This marked the largest declared wave of attacks on shipping by both sides since the war began six months ago. 

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

• Why the S&P 500's technical backdrop still favors bulls, per Schaeffer's Senior V.P. of Research Tod Salamone. 
• ETF underperformers to ditch in September. 
• Plus, three stocks making outsized post-earnings moves this morning. 

5 Things You Need to Know Today

1. The Cboe Option Exchange saw roughly 2.7 million call contracts and 1.3 million put contracts traded on Tuesday. The single-session equity put/call ratio fell to 0.48, while the 21-day moving average remained at 0.59. 
2. Casey's General Stores Inc (NASDAQ:CASY) is down 11.9% premarket, despite better-than-expected fiscal first-quarter earnings and revenue, as same-store sales growth missed estimates. Looking to open at its lowest level since March, CASY is heading into today with a 32.7% year-to-date lead. 
3. Signet Jewelers Ltd (NYSE:SIG), on the other hand, is up 16.2% before the bell after the company beat second-quarter earnings and revenue estimates and lifted its full-year guidance. Should these gains hold, SIG will break into positive territory for 2026. 
4. ServiceTitan Inc (NASDAQ:TTAN) is plummeting 19.2% in electronic trading after a second-quarter revenue miss, despite the software company posting strong earnings and raising its full-year forecast. Year to date, the equity is down 23.4%. Should these losses hold, TTAN will be on track for its seventh drop in eight sessions.
5. See what's coming up on Wall Street this week. 

Chinese Markets Digest Inflation Data

Asian markets were scattered today, as investors zeroed in on the surge in crude prices and fresh inflation data. For August, China’s consumer price index (CPI) climbed 0.8%, matching expectations, while the producer price index (PPI) rose 3.8%, beating the 3.6% estimate. In response, China’s Shanghai Composite climbed 0.3%. Meanwhile, Japan’s Nikkei and Hong Kong’s Hang Seng fell 0.2%, respectively, while South Korea’s Kospi bucked the trend, rising 1.4%.

Bourses in Europe are struggling today as Brent crude surges and the U.K. pound approaches two-week highs. At last glance, London’s FTSE 100 is down 1.2%, France’s CAC 40 is off 2.1%, and Germany’s DAX has shed 1.8%.