Foot Locker reportedly is set to spend about $1.1 billion in cash to buy two different retailers as it looks to expand its footprint outside of shopping malls.

With nearly two-thirds of the S&P 500 reporting June quarter earnings, collective profits are set to rise 89.8% from last year to a share-weighted $432.4 billion.

Solid corporate earnings lift equities as Wall Street begins the first trading of August; Square will buy Afterpay for $29 billion; Parker-Hannifin to buy U.K.'s Meggitt for $8.8 billion.