Stocks Eye Further Gains as Earnings, Politics Grab Headlines

The major equity indexes looked to extend Tuesday's upswing, with futures trading higher ahead of the opening bell. The recent rebound saw the Dow add 0.76%, S&P 500 climb 1.04%, and Nasdaq rise 1.03% as the comeback from a three-day slide gained steam. Investor euphoria was especially evident in Japan's 10.2% Nikkei 225 surge - its best session since October 2008.

Uber provided an earnings bright spot, crushing Q2 estimates with EPS of $0.47 on $10.7 billion in revenue, compared to projections of $0.31 EPS on $10.57 billion. User metrics were also solid, with monthly active platform consumers reaching 156 million and total trips hitting 2.77 billion.

But tensions arose between Microsoft and Delta Air Lines over a crippling July IT outage. Microsoft claims it offered free assistance that Delta refused, while knocking the airline's recovery compared to rivals. Delta plans to pursue damages from Microsoft and CrowdStrike.

On the political front, VP Kamala Harris named Minnesota's Tim Walz as her 2024 running mate, with both hailing the "battle-tested" governor as they hit the campaign trail together.

Disney also made headlines with streaming price increases slated for mid-October, boosting its bundled Disney+, Hulu and ESPN+ offerings by $1 to $2 per month in an apparent bid to consolidate customers.

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