🌅 Today's Morning Call
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S&P Futures
7,655.00
▼ -28.00 (-0.36%)
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Nasdaq Futures
29,407.00
▼ -159.75 (-0.54%)
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Dow Futures
52,508.00
▼ -294.00 (-0.56%)
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10Y Treasury
4.81%
▲ +0.02%
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US Dollar
98.65
▼ -0.12 (-0.12%)
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Bitcoin
$79,352
▲ +$905 (+1.15%)
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Data as of 8:08 AM ET
Good morning! Happy Wednesday. Futures are leaning red across the board this morning, so the mood is cautious rather than panicked as traders sip their first coffee. The bigger stories are corporate, from Chewy's growing profit to Google's massive European bet. Here's your morning rundown.
👀 What to Watch Today
Earnings season embers are still glowing, and Chewy (CHWY) sits front and center after posting second-quarter profit of $80.5 million, or 20 cents per share, up from 14 cents a year ago. A growing customer base is the headline, and traders will want to see whether that momentum holds into the back half of the year.On the macro side, keep one eye on Treasury yields, with the 10-year ticking up to 4.81% and the 30-year at 5.26%. Rising yields tend to pressure rate-sensitive growth names, which matters given the softer Nasdaq futures.
Also watch the retail and grocery space, where Albertsons (ACI) just installed Meg Whitman as executive chair to steady a business dealing with declining sales and cautious consumers.
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Overseas, the big story came from Samsung (SSNLF), where Chairman Jay Y. Lee is buying 1.9 trillion won worth of company shares from his mother, Hong Ra-hee. Insider buying at that scale tends to signal confidence, and it gave Korean tech a talking point overnight.In Europe, Zara owner Inditex (IDEXY) reported a better-than-expected start to autumn trading, with currency-adjusted sales up 9% in August. Notably, that came even as extreme heatwaves reshaped shopping behavior across the continent.
The dollar index eased to 98.65, giving a small tailwind to commodities and overseas earnings, while Bitcoin pushed higher to $79,352, up more than 1% and shrugging off the equity softness.
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📊 Pre-Market Movers
Chewy (CHWY) is the name to watch pre-market after its profit jumped to 20 cents per share from 14 cents a year ago, powered by a larger customer base. Expect an active open as traders react to the pet-retailer's improving margins.Google parent Alphabet (GOOG, GOOGL) is in focus after announcing a $15 billion investment in Finland data centers, its largest single European commitment. The spend backs Gemini, Search, Maps, and YouTube, reinforcing the AI infrastructure arms race.
Albertsons (ACI) could see movement on the Meg Whitman news, while Inditex (IDEXY) draws attention after its strong 9% August sales growth. Broad futures softness means even good news may face a choppy open.
🔍 Today's Watchlist
- CHWY: watch for follow-through after a solid profit beat and customer growth.
- ACI: Meg Whitman's arrival as executive chair puts a turnaround spotlight on Albertsons.
- GOOG and GOOGL: $15 billion Finland investment signals aggressive AI and cloud expansion.
- Treasury yields: 10-year at 4.81% and climbing, a headwind for growth stocks.
- Bitcoin above $79K: crypto strength diverging from softer equity futures.
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🎯 The Morning Playbook
With futures pointing lower and yields creeping higher, the play today is selectivity over broad exposure. Rate-sensitive tech may feel pressure, so lean toward names with clear catalysts like CHWY and its earnings momentum.Google's Finland spend is a reminder that the AI capex story is far from over, which keeps infrastructure and cloud themes firmly in play for longer-term positioning. Meanwhile, insider buying at Samsung and steady European retail from Inditex show pockets of confidence beneath the surface.
Red mornings often set up opportunities. Stay patient, watch your levels, and let the strong stories come to you.
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