Dow Futures on the verge of rebounding
Dow futures are up around 256 points this morning
Stock futures are on the mend this morning, after yesterday’s massive sell-off that saw major benchmarks register their worst day since May. Overseas markets stabilized following a liquidity crunch at Evergrande in China, helping to bolster global sentiment today. Meanwhile, oil prices and the 10-year Treasury yield are also rebounding, ahead of the two-day Federal Reserve policy meeting that will begin later today.
At the last check, the futures contracts on the Dow Jones Industrial Average (DJI) were up about 270 points, while S&P 500 Index (SPX)and Nasdaq-100 Index (NDX) futures were also decidedly in the dark.
Read on to learn more about the current market, including:
- Matthew Timpane, Senior Market Strategist at Schaeffer, Explains How Investors Should Handle falling volatility.
- Kroger share is expected to skyrocket as earnings loom.
- Additionally, Uber’s revised financial outlook; the update of the Johnson & Johnson booster injections; and Apple is getting into mental health.
5 things you need to know today
- The Cboe Options Exchange (CBOE) saw more than 1.8 million purchase contracts traded on Monday, up from 977,766 sales contracts. The single-session put / call ratio fell to 0.54 and the 21-day moving average remained at 0.51.
- Actions of Uber Technology Inc (NYSE: UBER) are up 4.9% before the opening, after the carpooling base revised its financial outlook for the third quarter. Uber now expects to bring in between $ 22.8 billion and $ 23.2 billion, compared to its previous forecast of $ 22 billion to $ 24 billion. Since the start of the year, UBER is down 22%.
- Blue-chip pharmaceutical Johnson & Johnson (NYSE: JNJ) is up 0.7% in e-commerce. The drugmaker has announced its Covid-19 The booster dose is 94% effective when given two months after the first dose and increases antibody levels four to six times higher than a single dose. Johnson & Johnson stock rose 9.8% year-on-year.
- According to the Wall Street Journal, Apple Inc (NASDAQ: AAPL) develops iPhone features to help identify depression and cognitive decline. The technology would work via data from the sensors. Year after year, Apple broth has a lead of 33.8%.
- Building permit and starts the data is expected to be released today.
Overseas markets rebound after Evergrande fear
Trade in Asia was mixed on Tuesday, although China’s Shanghai Composite and South Korea’s Kospi remained closed for a holiday. Hong Kong’s Hang Seng rebounded from its fall on Monday to add 0.5%, thanks to a 2.97% rise in the Hang Seng Properties index. Investors also considered comments from the chairman of China Evergrande Group, assuring that the company will honor its commitments to investors, financial institutions, partners and property buyers. Elsewhere, Japan’s Nikkei fell 2.2% after returning from vacation, dragged down by Softbank Group’s nearly 5% drop.
Meanwhile, European markets are on the rise as investors try to erase Evergrande’s woes and focus on the two-day US Federal Reserve meeting. Airlines and travel stocks are among the best performers today, after the United States announced on Monday that it will soon ease travel restrictions for travelers from the United Kingdom and from Europe. In addition, basic resources and stocks of oil and gas are increasing as investors fear shortages of natural gas in the region. At the last check, the German DAX is up 1.5%, the CAC 40 in France is up 1.4% and the London FTSE 100 is up 1.2%.