What to watch today: Dow to rise as Wall Street monitors D.C. coronavirus relief talks

What to watch today: Dow to rise as Wall Street monitors D.C. coronavirus relief talks

BY THE NUMBERS

Dow futures implied an opening gain of about 130 points as Wall Street looks to Washington for the latest on coronavirus relief legislation talks. S&P 500 and Nasdaq futures were also positive. Last week, the S&P 500 wrapped up its best July in 10 years and posted its fourth weekly gain in five. The Nasdaq, which rose 6.8% in July, is riding a three-day win streak and is within reach of another record high today. (CNBC) 

* U.S. Treasury yields move higher as investors monitor economic data, auctions (CNBC) 

The Institute For Supply Management is out with its July Manufacturing Index at 10:00 a.m. ET, with consensus forecasts calling for a reading of 53.8 compared to June's 52.6. At the same time, the government is out with June construction spending, expected to be up 1.2% after falling 2.1% in May.

Earnings season continues with Clorox (CLX), Marathon Petroleum (MPC) and Tyson Foods (TSN) out before the bell today. Texas Roadhouse (TXRH), Hyatt Hotels (H) and Tenet Healthcare (THC) report after the close.  

* Clorox names longtime executive its new CEO, as company beats estimates on pandemic-led demand (CNBC) 

IN THE NEWS TODAY

Microsoft (MSFT) confirmed it is in talks to acquire TikTok, the popular social media video app, in the U.S. from