Opening Comment — Tuesday, August 04, 2026
DJIA: 53,178.41, up 693.38
S&P 500: 7,600.50, up 110.78
NASDAQ: 25,913.90, up 540.05
Stocks higher before JOLTS data
Stock futures are higher Tuesday morning amid continuing uncertainty around the U.S.-Iran conflict. Investors are digesting the latest earnings releases and looking forward to the earnings for a mega-cap company that went public recently. Investors will also be closely watching the release of June's Job Openings and Labor Turnover Survey (JOLTS), factory orders, and trade data. As of 7:19 AM ET, the Dow is rising 0.7%, while the S&P 500 is up 0.2%. The Nasdaq 100 is increasing 0.9% relative to fair value on the GLOBEX.
U.S. equities were higher on Monday as the Institute for Supply Management (ISM) Manufacturing Purchasing Managers' Index (PMI) for July rose more than expected to 55.6, while the prices paid component fell to 71.1. June construction spending unexpectedly declined 0.1% month-over-month (MOM). The Dow was up 1.3% and reached a new record closing level of 53178.41, while the tech-heavy Nasdaq Composite rose 2.1%. The S&P 500 increased 1.5% with eight of 11 sectors finishing in positive territory. The Communication Services sector was the top performer, rising 4.3%, while the Energy sector was the bottom performer, falling 1.2%.
On the data front, June's trade deficit is expected to narrow to $73.0 billion from the prior month's $77.6 billion. Imports are forecasted to decrease 1.9% MOM following the prior month's 3.3% increase, while exports are expected to decline 1.1% MOM after falling 3.2% in the previous month. The June JOLTS is forecasted to show 7.454 million job openings, down from the prior month's 7.594 million. June's factory orders are projected to rise 0.2% MOM versus the prior month's 1.3% decline, while finalized durable goods orders are expected to show a 0.3% MOM increase, unchanged from the prior reading.
Across the pond, European stocks are mixed in mid-day trading as France’s year-to-date budget balance showed a deficit of €106.8 billion ($123.0 billion) through June, widening from a deficit of €93.3 billion ($107.4 billion) in May.
Overnight in Asia, stocks were mixed as South Korea’s July headline Consumer Price Index (CPI) declined 0.2% MOM, more than expected, and the annual inflation rate eased more than anticipated to 2.8% year-over-year (YOY). Meanwhile, Japan’s monetary base fell 13.8% YOY in July. Australia’s June household spending rose 0.8% MOM and 6.0% YOY, exceeding expectations.
In FOREX trading, the U.S. dollar is slightly higher ahead of today’s U.S. JOLTS data.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 0.6% higher at $80.79/barrel.
In the metals complex, gold is little changed at $4,054.66/ounce.