US futures point to a firmly higher open, and the single biggest driver is a weekend pause in US–Iran hostilities that sent oil tumbling roughly 8% and deflated the war-risk premium — just as Wall Street enters its busiest week of the quarter, headlined by four Big Tech reports and a Fed decision.

US futures now

Per Yahoo Finance and CNBC, Dow futures were up about 1%, S&P 500 futures roughly +0.9%, and Nasdaq-100 futures around +1.4%. Cheaper crude eases the inflation worry and lets risk appetite run ahead of Wednesday's Fed decision.

Pre-market movers

Chip names Micron, Intel and Nvidia were in focus with a broad bid across tech, according to premarket coverage. The bigger catalyst is the earnings gauntlet ahead rather than a single stock this morning.

Earnings & calendar this week

The heaviest mega-cap week of the season: Microsoft (fiscal Q4) and Meta report Wednesday after the close; Apple and Amazon on Thursday. Also on the tape: Coca-Cola, Boeing and Ford. Consensus per FXLeaders/Zacks previews: MSFT ~$4.22–4.24 EPS on ~$87.5B revenue, META ~$7.18–7.24, AAPL ~$1.86, AMZN ~$1.85.

Macro today

Not a light day. 8:30 ET — Durable Goods Orders (Jun) consensus +1.6% vs −4.5% prior; core ex-transport +0.9% vs +1.4%; and core capital goods ex-aircraft (the business-investment proxy) +0.5% vs +1.4%. 10:30 ET — Dallas Fed Manufacturing Index (Jul) seen −12.0 vs −15.1. 1:00 ET — 2-year and 5-year Treasury auctions. A beat on durables/capex would signal business investment is holding up; the auctions test appetite for duration after yields pulled back (Investing.com calendar). The week's main event is Wednesday's FOMC decision — CME FedWatch showed about a 64% chance of a hold as of Jul 24.

Rates, dollar & commodities

The US 10-year yield eased to about 4.64% (down ~4bps, off six-month highs) per Trading Economics. Brent traded near $90/bbl (−8%) and WTI around $83.5 (−7.7%). Gold rose to roughly $4,090/oz (+~1%). The dollar softened against G10 peers as the safe-haven bid unwound (CNBC).

Overnight global context

The de-escalation lifted risk appetite broadly: Canada's TSX futures were up ~0.7% and European equities opened firmer on the same theme. Lower oil is a net positive for import-heavy Asia and Europe.

What to watch at the open

Watch whether oil's slide holds — a bounce in crude would revive the inflation angle right before the Fed. Watch the 8:30 durable-goods print for a read on business investment. And watch how mega-cap tech trades as positioning builds into Microsoft, Meta, Apple and Amazon later this week; with a hold widely expected Wednesday, the market's real focus will be the tone of Powell's guidance.

As of 9:10 AM ET, Jul 27, 2026. Sources: Yahoo Finance, CNBC, Investing.com, Trading Economics, FXLeaders. Automated US market brief for discussion and education only — not investment advice. Verify before acting.