Stock Futures Remain Flat as Investors Eye Blue-Chip Shakeup

Futures on the Dow Jones Industrial Average (DJI) are trading just below fair value this morning as investors eye an upcoming index shakeup, replacing three of the current blue-chip members with new names, including Salesforce.com (CRM) which posted an impressive earnings report after last night's close. 

Meanwhile, S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are both poised to open modestly higher, after the former clocked yet another record high yesterday -- its 17th of the year. In other news, U.S. durable goods order rose over 11% in July, well above the 4.3% increase that was expected.

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

• Founder & CEO Bernie Schaeffer deep dives on the 2020 lumber stock surge.
• Gap stock is surging ahead of its earnings report.

• Plus, KDP gets a bull note; BBBY cuts jobs; and DKS surges after earnings.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw over 1.5 million call contracts traded on Tuesday, and 659,980 put contracts. The single-session equity put/call ratio stayed at 0.42, and the 21-day moving average fell to 0.46.
2. Keurig Dr Pepper Inc (NYSE:KDP) was just upgraded by Morgan Stanley to "overweight" from "equal rate." The firm cited an increase in at-home coffee consumption as the reason for the upgrade. As a result KDP is up 1.6% ahead of the bell.
3. Housewares retailer Bed Bath & Beyond Inc (NASDAQ:BBBY) is down 0.6% before the open, after the company announced it will cut around 2,800 jobs as part of its new restructuring plan. BBBY expects the move will save it about $150 million per year.
4. Dick's Sporting Goods Inc (NYSE:DKS) just reported second-quarter earnings and revenue that were well above forecasts. Additionally, its comparable-store sales are up nearly 21%, while e-commerce sales nearly tripled during the quarter. As a result, DKS is up 11.7% in pre-market trading.
5. Today investors will keep an eye on earnings reports from Bilibili (BILI), Five Below (FIVE), Guess? (GES), Tiffany & Co (TIF), and Williams-Sonoma (WSM) rolling in. 

Stocks in Asia were mixed after today’s session, with investors digesting tech giant Alibaba’s (BABA) Ant Group filing for a concurrent listing on two stock exchanges. China’s Shanghai Composite lead the losses with a 1.3% drop, while Japan’s Nikkei fell a mild 0.03%. Meanwhile, the Kospi in South Korea gained 0.1%, while Hong Kong’s Hang Seng added 0.02%.

In Europe, stocks were mostly higher as travel and leisure stocks gained on optimistic sentiment, and utilities stocks fell. London’s FTSE 100 is struggling for upside, last seen down 0.2%. Elsewhere, the German DAX and French CAC 40 are up 0.4% and 0.2%, respectively.