Dow Futures Gain, Nasdaq Eyes New High

The earnings and economic calendar will be relatively quiet today

Mar 12, 2018 at 9:14 AM
facebook X logo linkedin


Stocks closed last week on a strong note, and they're set to carry that momentum into this week, with Dow Jones Industrial Average (DJI) futures trading above fair value. The S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are signaling upside, too, with the latter index poised to follow the Nasdaq Composite (IXIC) to fresh record highs. The economic calendar is rather bare today, giving investors more time to consider last week's blowout February jobs report as stocks test another potential layer of options-related resistance ahead of quadruple witching Friday.

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

what are stocks doing today

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.26 million call contracts traded on Friday, compared to 671,967 put contracts. The single-session equity put/call ratio fell to 0.53, and the 21-day moving average stayed at 0.64. 
  2. Fiber optics stock Oclaro Inc (NASDAQ:OCLR) is up almost 25% before the open thanks to news Lumentum Holdings (LITE) will buy the company for $1.8 billion in cash and stock. OCLR shares recently rallied after a strong quarterly update from the tech firm, but were still down 15% year-over-year as of Friday's close at $7.85.
  3. Last week we noted Century Aluminum Co (NASDAQ:CENX) could be in store for bullish analyst attention after President Donald Trump's tariff announcement, and this morning BMO upgraded the stock to "outperform" from "market perform" and lifted its price target to $28 from $20. CENX was last seen trading at $20.15 -- set to open the session up 2.7% -- recently bouncing near its 80-day moving average.
  4. Chip stocks could stay hot today, including Micron Technology, Inc. (NASDAQ:MU), which is up 3.6% before the open -- putting MU shares on pace for another post-dot-com-era high. The equity has already more than doubled in value over the past 12 months.
  5. The Treasury budget will come out today, as well as earnings from Arena Pharmaceuticals (ARNA), Clearside Biomedical (CLSD), Dynavax Technologies (DVAX), Stitch Fix (SFIX), and Tilly's (TLYS).

stock market news march 12

Stocks In Asia and Europe Rise

Markets in Asia finished higher on Monday, boosted by the upbeat U.S. jobs report on Friday. Japan's Nikkei added 1.7%, while South Korea's Kospi jumped 1%, thanks to a recovery in steel producers. Hong Kong's Hang Seng gained 1.9%, fueled by a strong day from tech stocks, while China's Shanghai Composite closed 0.6% higher.

Stocks in Europe are higher at midday, as investors continue to applaud a solid U.S. payrolls report. However, worries remain about President Trump's steel and aluminum tariffs, with Germany's Economy Minister Brigitte Zypries commenting over the weekend that they "are putting the order of a free global economy at risk." London's FTSE is up 0.1%, at last check, while the French CAC 40 is up 0.3%, and the German DAX is up 0.7%. Utility stocks are particularly strong this morning, after E.On agreed to buy RWE's 76.8% Innogy stake.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI