Dow Futures Signal Triple-Digit Rise

Groupon is a big pre-market gainer thanks to M&A buzz

Jul 9, 2018 at 9:11 AM
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Dow Jones Industrial Average (DJI) futures are trading sharply higher again, as stocks look to build off the momentum from Friday's jobs report. The blue-chip index is signaling a triple-digit jump at the open, and futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are set for big moves, as well. With little else on today's economic schedule, the payrolls-induced tailwinds could persist, especially with trade tensions seemingly taking a back seat for the moment.

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

stocks today

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 871,060 call contracts traded on Friday, compared to 499,995 put contracts. The single-session equity put/call ratio fell to 0.57, while the 21-day moving average stayed at 0.58.
  2. Groupon Inc (NASDAQ:GRPN) shares are up almost 11% in electronic trading, thanks to a Recode report saying the company is looking for a buyer. GRPN shares have been prone to volatile moves on the charts, but as of Friday's close at $4.36, they were down 14.5% year-to-date. The sharp jump in the stock price would be bad news for short sellers, which increased their positions by 27.4% in the last two reporting periods.
  3. Another pre-market winner is Twitter Inc (NYSE:TWTR), with shares of the social media company up 1% before the open. The Washington Post on Friday released a story detailing how Twitter's been deleting fake accounts at a blistering pace, including more than 70 million in May and June alone, in its continued attempt to clean up its site. TWTR stock, meanwhile, has had a tremendous year, rallying to more than three-year highs and closing Friday at $46.65. More tailwinds could be on the way for the new S&P addition, too.
  4. In other news, The New York Times obtained a recorded speech of AT&T Inc. (NYSE:T) executive and new head of HBO John Stankey, in which he discussed the ways HBO will need to change to be successful following the company's Time Warner purchase. A number of analysts have suggested the merger could actually hurt HBO's ability to compete with Netflix (NFLX). AT&T stock has shed almost 16% in 2018, last seen at $32.68.
  5. Minneapolis Fed President Neel Kashkari is scheduled to speak today. There are no notable earnings set for release.

stock market news july 9

Stocks in Asia, Europe Gain

Asian stocks finished strong today, building on Friday's positive momentum. China's Shanghai Composite outpaced its peers, adding 2.5% as bank and insurance shares rallied. Elsewhere, Hong Kong's Hang Seng added 1.3%, while a cooling yen lifted Japan's Nikkei 1.2%. Rounding things out, South Korea's Kospi gained 0.6%.

European markets are higher at midday, brushing off the unexpected resignation of the U.K.'s top Brexit negotiator, David Davis. At last check, London's FTSE 100 is up 0.3% after Britain's Prime Minister Theresa May nominated Dominic Raab to replace Davis, the French CAC 40 is 0.2% higher, and the German DAX has edged up 0.07%.

 

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