Dow Futures Eye Pop in triple digits to wrap up roller coaster week
Dow Futures Are About 182 Points Higher
Markets are ready to extend their rally of Monday’s trench, with futures on the Dow Jones Industrial Average (DJI) up 182 points, and the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) sporting notable gains before marketing their own. The 10-year Treasury yield also continues to rise, last seen at 1.3%. Tech stocks are leading the way this morning, with better-than-expected earnings from several social media stocks, including Twitter (TWTR) and Snap (SNAP).
Read on to learn more about the current market, including:
- How? ‘Or’ What this top notch action behaved ahead of this morning’s earnings report.
- What could grow Twitter actions even higher.
- In addition, HON increases forecasts; INTC Sinks Despite Beaten Profits; and the buzz of redemptions makes VNNE jump.
5 things you need to know today
- the Cboe Options Exchange (CBOE) saw more than 1.3 million purchase contracts traded on Thursday, up from 768,366 sales contracts. The single-session equity put / call ratio fell to 0.57 and the 21-day moving average remained at 0.49.
- Actions of Honeywell International Inc (NASAQ: HON) are down today, last seen down 0.3%, although the company reported higher earnings and revenue in the second quarter and raised its outlook for the full year. Honeywell cited strength in all of its activities. Year over year, HON is up 51.4%.
- Name of advanced technology Intel Corporation (NASDAQ: INTC) is down 2.4% in e-commerce, after its latest forecast fell below expectations of some investors, with the company noting that the global chip shortage could be long-term. However, the company posted higher profit and revenue in the third quarter. Since the beginning of the year, the title is up 12.7%.
- Automatic name based in Sweden Veoneer Inc (NYSE: VNE) is up 54.7% in e-commerce, as the company will be acquired by Canadian competitor Magna International in a $ 3.8 billion cash deal, which will help recent technological developments of the company in terms of driving assistance. Magna (MG), meanwhile, lost 4.2% before the bell.
The week ends with the Markit Manufacturing Purchasing Managers (PMI) index, as well as the services PMI.
Profit season gives European markets a boost
Asian markets were mostly down today with the Japanese Nikkei closed for holidays. Hong Kong’s Hang Seng fell 1.5%, while China’s Shanghai Composite fell 0.7%, following news that Beijing was considering new tough penalties and even a forced delisting of the carpool name Didi (DIDI ). The lone winner of the day, South Korean Kospi, added 0.1%.
Meanwhile, European markets are higher overall as the earnings season accelerates. The Eurozone Purchasing Managers’ Flash Index (PMI) for July showed business growth at its fastest in more than 20 years as countries reopen. London’s FTSE 100 posts a gain of 0.8% after UK retail sales rose 0.5% in June, although the country’s IHS Markit PMI fell to 57.7 from 62 , 2 for the same month. Elsewhere, the French CAC 40 is up 1.1% at the last check, and the German DAX rose 1%.