Stock Futures Rise as Dow Looks for Third Straight Win

It may be another day of reefer madness for Tilray stock traders

Sep 20, 2018 at 9:09 AM
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Futures on the Dow Jones Industrial Average (DJI) are trading comfortably above fair value this morning, as investors continue to move past recent trade war fears. Another win would mark a third straight for the Dow and the S&P 500 Index (SPX), while the Nasdaq-100 Index (NDX) is also signaling a move higher as tech stocks try to recover from yesterday's disappointing session.

Traders are also digesting this morning's jobless claims number, which came in at a lower-than-expected 201,000. Meanwhile, weed stock Tilray (TLRY) is already grabbing headlines again due to volatile pre-market trading.

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

  • Guggenheim: Buy this drug stock that could double.
  • These 2 stocks could rally after the Fed meeting.
  • Buy calls after this bullish AMC stock signal.
  • Plus, Stitch Fix gets downgraded; Red Hat sales disappoint; and the RV maker set for a fresh low.

us stock futures sept 20

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.15 million call contracts traded on Wednesday, compared to 661,845 put contracts. The single-session equity put/call ratio moved up to 0.57, and the 21-day moving average held at 0.59.
  2. Stitch Fix Inc (NASDAQ:SFIX) is is down 3.4% in electronic trading following a downgrade to "neutral" from "overweight" at Piper Jaffray. SFIX stock touched a record high of $52.44 on Tuesday, as the digital fashion expert had been one of the hottest stocks in 2018.
  3. On the earnings front, software name Red Hat Inc (NYSE:RHT) is sliding following disappointing second-quarter sales and a weak current-quarter outlook. A number of negative analyst notes have since come through, as well, driving RHT shares down 5.5% in electronic trading.
  4. RV manufacturer Thor Industries, Inc. (NYSE:THO) is another earnings loser this morning, shedding more than 8% before the open. The company missed fiscal fourth-quarter profit expectations, and the stock is set to add to its 30% year-to-date drop -- a complete reversal from its impressive 2017 performance.
  5. The Philadelphia Fed business outlook survey, existing home sales data, the Fed's balance sheet, and the index of leading economic indicators are all due today. Micron (MU), Darden Restaurants (DRI), and United Natural Foods (UNFI) will report earnings.

stock market news sept 20

European Stocks Rise on U.K. Retail Sales

Asian equity benchmarks were little changed today, with no major news emerging from the U.S.-China trade spat. But it was a decent session for tech stocks, highlighted by the Hong Kong trading debut of Tencent-backed app giant Meituan Dianping. By the close, South Korea's Kospi jumped 0.7%, Hong Kong's Hang Seng rose 0.3%, Japan's Nikkei edged up 0.01%, and China's Shanghai Composite lagged with a 0.06% drop.

European stocks are cautiously higher at midday, driven in part by stronger-than-forecast U.K. retail sales. Meanwhile, investors are keeping a watchful eye on a summit of European Union (EU) leaders in Salzburg, Austria, where French President Emmanuel Macron is urging his counterparts to resist U.K. Prime Minister Theresa May's requests to "compromise" on elements of Britain's exit from the coalition. At last check, the French CAC 40 is up 0.8%, the German DAX is up 0.7%, and London's FTSE 100 has edged up 0.2%.

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