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Stock futures rally as investors gear up for jobs report, key earnings: Live updates 11%
By Justina Lee60% Tanaya Macheel14%
8/2/2026, 3:04:33 PM
Keywords: Investment Strategy, Markets, Stock Markets, Breaking News Major, Breaking News Markets, Dow Jones Fut Sep25, S And P 500 Fut Sep25, Nasdaq 100 Fut Sep25, Iran, Donald J Trump, Ice Brent Crude Oct25, Wti Crude Sep25, United States, Lco26v, Mcdonalds Corp, Kraft Heinz Co, Walt Disney Co, Costco Wholesale Corp, Palantir Technologies Inc, Advanced Micro Devices Inc, Invesco Qqq Trust, Nvidia Corp, Donald Trump
BS Summary: This article contains 9 faulty reasoning types, including Pessimism Bias, Fundamental Attribution Error, and Hasty Generalization, with Availability Heuristic as the most egregious example at 9.1% saturation with 61 hits. Analysis detected 384 faulty-reasoning hits from 674 analyzed words, generating a BS Score of 22.8% and a BS Rank of 11% (23,066 of 25,725 articles). This article is better (less manipulative) than 89.70% of the article peer group.
U.S. equity futures rose Sunday evening as investors awaited the July jobs report and another busy week of earnings to kick off August trading.
Futures tied to the Dow Jones Industrial Average rallied 200 points, or 0.4%.
S&P 500 futures advanced 0.5%, and Nasdaq-100 futures climbed 0.8%.
In Asia, Japan's Nikkei 225 fell 1.43% while the Topix declined 1.45%.
The Kospi dropped 4.57% at open, while the small-cap Kosdaq slipped 1.67%.
Australia's benchmark S&P/ASX 200 was 0.36% lower.
Oil prices fell after President Donald Trump said earlier Sunday he canceled a planned attack on Iran.
U.S. media reports on Friday said the president was gearing up for a new wave of strikes as hopes for a negotiated settlement to the war diminished and energy prices surged.
Brent crude futures slipped $3.52 to $84.41, while U.S.
West Texas Intermediate crude slid $3.49 to $81.18 a barrel.
The three major indexes closed higher on Friday, with the Dow advancing 276.97 points, or about 0.53%, to 52,485.03.
The S&P 500 closed up 0.7% at 7,489.72, and the Nasdaq Composite surged 1% to 25,373.85.
With the major averages wrapping up Friday near record highs, attention is turning to whether the catalysts that fueled the rally can continue to drive gains.
While Big Tech companies largely delivered on earnings, investors are becoming less willing to overlook mounting AI-related spending without clearer evidence of earnings growth, according to Megan Horneman, chief investment officer at Verdence Capital Advisors.
"The one takeaway that I had from those tech earnings is that investors don't have that appetite to just continue to pay and pay and pay without any clear insight into what this capex spending is going to do from an earnings perspective," Horneman told CNBC's "Fast Money" on Friday.
"[With] big tech out of the way, what's the catalyst here that's going to get the market to continue to go higher?
We just don't see it ... there are going to be more risks that we have going into August and the second half of this year."
Meanwhile, earnings reports due out this week are coming from companies that could offer clearer insights into broader economic conditions.
Results are expected from McDonald's, Kraft Heinz, Costco Wholesale and Walt Disney.
Technology companies, including Palantir, and semiconductor giants like Advanced Micro Devices, are also on deck.
Investors will also have a full slate of labor market data to digest next week, culminating with Friday's closely watched monthly jobs report.
The U.S. economy is expected to have added 87,500 nonfarm payrolls in July, up from 57,000 jobs the previous month, according to FactSet consensus estimates.
The unemployment rate is also set to edge higher, to 4.3% from 4.2%.
South Korea's Kospi falls over 4%; Japan's Nikkei drops 1.4%
Asia-Pacific markets traded lower early Monday.
Japan's Nikkei 225 fell 1.43% while the Topix declined 1.45%.
The Kospi dropped 4.57% at open, while the small-cap Kosdaq slipped 1.67%.
Australia's benchmark S&P/ASX 200 was 0.36% lower.
Asia-Pacific markets were set to open mixed Monday, amid lower oil prices after U.S.
President Donald Trump cancelled planned attack on Iran.
Japan's Nikkei 225 was poised to fall, with its Chicago futures contract at 63,700 and its Osaka counterpart last trading at 62,950, compared with the index's previous close of 64,362.02.
Hong Kong Hang Seng index futures were last at 25,922, compared with the index's last close of 25,884.43.
In Australia, S&P/ASX 200's futures last traded at 8,858, while the index closed at 8,976.80.
Trump said early Sunday that a planned attack on Iran was cancelled, after Tehran and its regional neighbors made a request to hold off on attacks.
The agreement would include the "Immediate, Complete, and Total OPENING OF THE HORMUZ STRAIT, and an end to Iran's nuclear threat," Trump said.
U.S. equity futures rose to begin trading on Sunday evening.
Futures tied to the Dow Jones Industrial Average jumped gained 183 points, or 0.3%.
S&P 500 futures advanced 0.4% and Nasdaq-100 futures rallied 0.7%.
Analysis
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