Stock Futures Higher Ahead Of More Fedspeak – Schaeffers Research (press release)

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Stock futures are pointed comfortably higher this morning, after a strong close last Friday from the major indexes translated into weekly wins. The Dow Jones Industrial Average (DJI) is signaling a triple-digit gain, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also higher as bond yields continue to cool off. The Fed will stay in focus this week, with two central bankers taking the mic at the NABE Economic Policy Conference in Washington, D.C., ahead of new Fed Chair Jerome Powell’s Congressional testimony later this week.

Continue reading for more on today’s market, including:

  • This sentiment indicator could be a short-term buy signal.
  • Fitbit stock could make a big move tomorrow, if options predictions ring true.
  • The gun control debate is sinking this firearm stock.
  • Plus, Boeing negotiates; Finish Line stock gets upgraded; and Warren Buffett’s appetite for FAANG. 

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 986,461 call contracts traded on Friday, compared to 607,289 put contracts. The single-session equity put/call ratio slid to 0.62, while the 21-day moving average jumped to 0.65. 
  2. Boeing Co (NYSE:BA) stock is up 0.6% in electronic trading, after a Brazilian newspaper reported the aerospace company would potentially have a 51% stake in its new joint venture with Brazilian aircraft manufacturer Embraer. The deal is currently still in negotiation. Boeing stock soared to a record high of $361.45 on Feb. 1, and has added 21% in 2018. The shares have been guided higher by their 10-week moving average since September 2016.
  3. Finish Line Inc (NASDAQ:FINL) stock is up 1.3% ahead of the bell, after Susquehanna upgraded the apparel stock to “positive” from “neutral.” The analyst cited upbeat sales numbers and the company’s promotional marketing trends as reasons for the upgrade. Finish Line stock had rallied to the $15 level to kick off the new year, but since then has dipped 30%. 
  4. Shares of Apple Inc. (NASDAQ:AAPL) are up 0.6% in electronic trading, after Warren Buffett said  Berkshire Hathaway (BRK.A) bought Apple stock “more than anything else” in the past year. Since touching an all-time high of $180.10 on Jan. 18, AAPL stock pulled back with the broader market. However, the stock found support at the $150 level, and has fought back to gain nearly 5% in February. 
  5. The busy week kicks off with speeches from St. Louis Fed James Bullard and Fed Vice Chairman Randall Quarles, alongside a new home sales data. Earnings are expected from Corelogic (CLGX), Dean Foods (DF), Eagle Pharmaceuticals (EGRX), Nutrisystem (NTRI), Palo Alto Networks (PANW), and Tenet Healthcare (THC).

Asian, European Markets Take Bullish Cue From Wall Street

It was a positive finish in Asia today, following Wall Street’s bullish lead on Friday. Chinese stocks outperformed, after regulators recommended postponing a reform to Beijing’s current initial public offering (IPO) procedure and the country’s Communist Party suggested eliminating the cap on presidential terms. At the close, China’s Shanghai Composite was up 1.3%, while Hong Kong’s Hang Seng added 0.7%. Elsewhere, Japan’s Nikkei added 1.2%, and South Korea’s Kospi tacked on 0.3%.

European markets are higher at midday, with tech shares leading the charge after several telecoms — including Nokia — unveiling more details around scheduled roll outs of 5G networks. Ahead of an afternoon speech from European Central President (ECB) Mario Draghi, the French CAC 40 was 0.6% higher and the German DAX was up 0.4%. London’s FTSE 100, meanwhile, was flirting with a 0.5% lead at last check.

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