Dow Futures Point to Triple-Digit Open

Retail sales for February disappointed, however

Josh Selway
Mar 14, 2018 at 9:17 AM
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Dow Jones Industrial Average (DJI) futures are trading above fair value, as stocks try to recover from yesterday's politically driven pullback. Concerns surrounding trade and tariffs could linger today, however, after CNBC reported the White House is considering placing indefinite tariffs on China, on top of other restrictions. Traders are also considering another big round of economic data. Namely, retail sales in February declined unexpectedly -- a third straight monthly drop -- and the producer price index (PPI) rose 0.2% for the same period, slightly higher than expected.

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

  • Schaeffer's Senior Quantitative Analyst Rocky White reveals the tech signal that's good for stocks.
  • A regulatory breakthrough for the firm's cystic fibrosis drug sent Proteostasis Therapeutics stock to the top of the Nasdaq.
  • 2 drug stocks ripe for a short squeeze.
  • Plus, Walmart plans to deliver; a shocking Ford update; and the retailer selling off.

stocks today

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.07 million call contracts traded on Tuesday, compared to 615,360 put contracts. The single-session equity put/call ratio stayed at 0.57, and the 21-day moving average dipped to 0.61. 
  2. After earlier this month expanding its meal-kit delivery business, Walmart Inc (NYSE:WMT) announced it will begin delivery groceries directly to customers in more than 100 cities by the end of the year. The retail giant already offers the service in six metro locations. WMT shares have been consolidating just below the $90 level since their massive sell-off last month.
  3. Shares of Ford Motor Company (NYSE:F) are up 3.6% before the open, after a big upgrade at Morgan Stanley. The brokerage firm raised its opinion to "overweight" from "underweight," and lifted its price target to $15 from $10, saying the automaker has fallen out of favor with Wall Street, giving it the potential to surprise if the company executes. Plus, Susquehanna upped its price target to $12 from $11. This news is especially given how bearish other analysts have been on Ford stock in recent weeks.
  4. Signet Jewelers Ltd. (NYSE:SIG) is set to drop 10% at the open -- headed toward a five-year low -- due to the company's disappointing fourth-quarter same-store sales and weak full-year outlook. The jewelry retailer has struggled mightily on the charts since peaking near $78 in November, closing last night at $47.91. More troublesome still is the fact SIG stock typically outperforms during this time of year.
  5. Earnings are due from 3D Systems (DDD), Guess? (GES), Ino Pharmaceuticals (INO), Vera Bradley (VRA), and Williams-Sonoma (WSM). Business inventories and weekly crude inventories are set to be released, too.

stock market news march 14

Stocks In Asia Pull Back

Markets in Asia finished lower today, with investor sentiment rattled by President Trump's dismissal of Secretary of State Rex Tillerson, as well as the reports of potential Chinese tariffs. China's Shanghai Composite fell by 0.6% as rising trade tensions overshadowed robust data on industrial production and fixed-asset investment growth, and Hong Kong's Hang Seng backpedaled 0.5%. Japan's Nikkei fell 0.9% as the yen firmed, despite an upside surprise on core machinery orders, and South Korea's Kospi shed 0.3%.

Stocks in Europe, however, are higher at midday. European Central Bank (ECB) President Mario Draghi affirmed in a speech in Frankfurt that rates won't be raised for some time, and the eventual increases would occur "at a measured pace." The German DAX sports a 0.4% lead, with athletic apparel giant Adidas up nearly 9% after announcing a $3.7 billion share buyback. Elsewhere, London's FTSE 100 and the French CAC 40 are both up 0.3% at last check.


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