US futures point higher into the cash open after a shock July jobs report — the economy unexpectedly lost 23,000 jobs — pushed Treasury yields down and revived bets on a Federal Reserve rate cut.

Futures now

As reported by Yahoo Finance and Benzinga, Nasdaq-100 futures led higher, up about 0.8%, with S&P 500 futures up roughly 0.4% and Dow futures near flat. The single overnight driver was the 8:30 a.m. ET payrolls miss, which markets read as bringing a Fed cut back into play.

Macro today — the jobs shock

The July Employment Situation (BLS, via CNBC and Bloomberg) dominated an otherwise light data day:

• Nonfarm payrolls: −23,000 — the first decline in months, versus consensus near +80,000.
• Unemployment rate: 4.1%, down from 4.2%.
• The prior two months were revised down by a combined 103,000 — the bigger shock for many economists.
• Losses were concentrated in local-government education (−50k) and retail (−19k).

A softer labor market lifts the odds of Fed easing — which is why stocks rose even though the headline was bad news for the economy.

Pre-market movers (the why)

• Doximity (DOCS) +66% — beat fiscal-Q1 estimates and raised full-year targets.
• Atlassian (TEAM) ~+29% — topped revenue and guidance, accelerating ARR, back to GAAP profit.
• Cloudflare (NET) ~+15% — Q2 beat and raised its FY26 outlook.
• Airbnb (ABNB) ~+7% — Q2 EPS $1.37 on $3.61B revenue, aided by FIFA World Cup travel.
• First Solar (FSLR) +5% — solar names rose on new tariffs on imported panel inputs.
• The Trade Desk (TTD) −27% — Q2 revenue and adjusted EPS (34c vs 40c) missed.
• Wendy's (WEN) −2% — global sales fell ~6% (US −8.2%) and it withdrew its 2026 outlook.

Earnings ahead: a quieter after-the-bell slate as Q2 season winds down; the ad-tech read-through from Trade Desk vs. the software beats is today's cross-current.

Rates, dollar & commodities

The US 10-year yield fell to about 4.6% after the jobs miss (CNBC), and the dollar eased on firmer rate-cut expectations. Brent crude sat near $82/bbl and WTI near $78 (Trading Economics) after an earlier-week spike. Gold pushed into record territory near $4,380/oz (Yahoo Finance) as real-yield expectations softened.

Overnight global

Asia finished mixed (AP): Japan's Nikkei −0.1%, Korea's Kospi −0.6%, while China's Shanghai Composite gained 1% after exports grew ~24% in July. Europe traded higher midday — Germany's DAX +0.7%, France's CAC +0.3%, the UK's FTSE 100 +0.5%.

What to watch at the open

Watch whether the "bad-news-is-good-news" reaction holds once the cash market opens, or whether growth worry takes the wheel. Rate-sensitive megacap tech and the 10-year yield are the tells, and the earnings split — Atlassian and Cloudflare up, Trade Desk down — will steer the software and ad-tech tape into the weekend.

As of 9:15 a.m. ET, Aug 7, 2026. Sources: CNBC (yields/jobs), CNBC (movers), Bloomberg, Benzinga, Yahoo Finance, Trading Economics, AP. Automated US market brief for discussion and education only — not investment advice. Verify before acting.