BUY, SELL, HOLD (2)

Stock Futures Quiet As Earnings Season Drags On

The Dow's six-day winning streak may be in jeopardy

Managing Editor
Nov 8, 2017 at 9:12 AM
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Dow Jones Industrial Average (DJIA) futures are muted this morning, after the index notched a sixth straight gain yesterday. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also sticking close to breakeven. Earnings season continues to roll on, with Snap (SNAP) stock set to plunge after an earnings miss, and Wall Street newcomer Roku (ROKU) due up later today. Elsewhere, Wall Street is awaiting Senate Republicans' tax plan, expected before the end of the week, and traders continue to keep an eye on President Trump's tour of Asia.

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

  • If past is prologue, buy these 20 stocks now, according to Schaeffer's Senior Quantitative Analyst Rocky White.
  • Shorts, options traders swarm Square stock ahead of earnings.
  • Why option bulls are targeting this Amazon partner.
  • Plus, Twitter gives more room to tweet; while Marriott and Take-Two Interactive report earnings.

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5 Things You Need to Know Today
  1. The Chicago Board Options Exchange (CBOE) saw 961,060 call contracts traded on Tuesday, compared to 611,395 put contracts. The single-session equity put/call ratio rose to 0.64, and the 21-day moving average fell to 0.64.
  2. Twitter Inc (NYSE:TWTR) made headlines last night, after rolling out a key new feature that allows 280-character tweets for all users, up from the original 140. The news has the social media stock up 1.5% in electronic trading. TWTR stock has added 20% year-to-date, and touched an annual high of $21.96 on Oct. 27.
  3. Marriott International Inc (NASDAQ:MAR) stock is fractionally higher before the bell, after the hotelier reported third-quarter earnings and revenue that topped Wall Street's forecasts. Marriott International also raised its full-year forecast for the third time this year. MAR stock touched a record high of $123.31 yesterday, and has already added roughly 46% in 2017.
  4. Take-Two Interactive Software, Inc. (NASDAQ:TTWO) was another big earnings winner, posting stronger-than-expected quarterly revenue. In addition, the company offered a solid holiday-quarter sales forecast, citing demand for its new NBA2K game and the popular Grand Theft Auto franchise. TTWO stock is up 11% in electronic trading, on track for a new record high. The video game stock has tacked on 115% year-to-date, and has seen a flurry of call buying lately.
  5. The weekly crude inventories update is the sole data point today. Aerie Pharmaceuticals (AERI), Amicus Therapeutics (FOLD), Canadian Solar (CSIQ), CoreCivic (CXW), e.l.f. Beauty (ELF), Humana (HUM), MGM Resorts International (MGM), Monster Beverage (MNST), Plug Power (PLUG), Twenty-First Century Fox (FOXA), Twilio (TWLO), and Wendy's (WEN) will step up to the earnings plate.

stock market news november 8

Overseas Trading

It was a mixed finish in Asia today, as traders weighed Chinese trade data amid President Donald Trump's visit to the mainland and falling oil prices. Specifically, imports to China rose more than forecast last month, while exports increased by a smaller-than-expected margin -- sending the Shanghai Composite up a modest 0.04%. South Korea's Kospi also finished on the plus side of the ledger, adding 0.3%. Elsewhere, profit-taking and a stronger yen had Japan's Nikkei retreating from a multi-decade high, with the index shedding 0.1%. Rounding things out, Hong Kong's Hang Seng gave back 0.3%, despite a strong public trading debut for China Literature.

European stocks are mostly lower at midday, with financial stocks falling on disappointing earnings reports -- including one from French bank Credit Agricole. Most recently, the French CAC 40 was off 0.2% and the German DAX was down 0.01%. London's FTSE 100, meanwhile, is holding on to fractional gains.

 

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