Stock Futures Pare Losses After Surprising Inflation Data

Still, stocks are set for another down day

Oct 11, 2018 at 9:14 AM
facebook X logo linkedin

There's been notable movement in U.S. stock futures this morning, with a surprising consumer price index (CPI) pulling futures off their lows. The closely watched inflation gauge came in weaker than expected for September, momentarily calming investor nerves about rising interest rates. While the Dow Jones Industrial Average (DJIA) is still set to open lower -- and add to yesterday's dramatic sell-off -- this morning's inflation data significantly cut into the index's pre-market losses. In other economic news, weekly jobless claims came in slightly higher than expected, with 214,000 Americans filing for unemployment benefits, compared to forecasts of 206,000.

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

stock futures oct 11

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.13 million call contracts traded on Wednesday, compared to 838,732 put contracts. The single-session equity put/call ratio jumped to 0.74, and the 21-day moving average edged up to 0.61.  
  2. Delta Air Lines, Inc. (NYSE:DAL) is set for a positive post-earnings reaction, gaining 3.3% in pre-market trading. The third-quarter report showed a top- and bottom-line beat, and the company gave a strong outlook for the current quarter, with CEO Ed Bastian noting expectations for expanded margins moving into the next year. DAL shares certainly need the boost, as they're on pace for a third straight weekly loss, yesterday notching their lowest close since early July -- going against historical seasonal trends.
  3. Walgreens Boots Alliance Inc (NASDAQ:WBA) is trading lower after earnings, set for a 4.9% decline at the open. Earnings-per-share were better than expected for the fiscal fourth quarter, but sales for the period were lower than anticipated. The losses would have WBA stock testing its 320-day moving average
  4. Gene editing name Crispr Therapeutics AG (NASDAQ:CRSP) is set to jump 14% at the open, thanks to news the Food and Drug Administration (FDA) lifted its hold on the company's clinical trial for its sickle cell disease drug. CRSP shares have lost 64% since their May highs above $70, but some analysts remain bullish.
  5. Today features weekly jobless claims and the weekly crude inventories report. The Treasury budget and Fed balance sheet will also be released. WBA is the only name on the earnings schedule.

stock market news oct 11

Global Markets Join U.S. In Sell-Off

Asian stocks followed Wall Street's lead, drastically selling off. Losses across all sectors weighed heavy, though tech got hit particularly hard. In Japan, the Nikkei fell 3.9% as the yen strengthened, while South Korea's Kospi tanked 4.4%. Hong Kong's Hang Seng ended 3.5% lower, while China's Shanghai Composite fared the worst with its 5.2% drop -- marking its biggest one-day decline since February 2016.

European markets are not ducking the global sell-off, with all major indexes significantly lower at midday. The increasing concern over global economic growth and interest rates has Germany's DAX down 0.9%, France's CAC 40 off 1.4%, and London's FTSE 100 1.5% lower, at last check.


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI