Stock Futures Mixed Despite Solid Blue-Chip Earnings

WMT and CSCO earnings have failed to lift Dow futures

Managing Editor
Nov 15, 2018 at 9:17 AM
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Futures on the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are slightly lower today, as both indexes look to extend their losing streaks. Investors are digesting quarterly reports from blue-chips Walmart (WMT) and Cisco Systems (CSCO), as well as a rebounding tech sector -- including Apple (AAPL) -- that has Nasdaq-100 Index (NDX) futures cautiously higher. Traders are also eyeing a bigger-than-expected rise in U.S. retail sales last month. Outside of the U.S., traders are watching Britain, as several ministers unexpectedly resigned after Prime Minister Theresa May submitted a Brexit draft agreement.

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

  • Analyst: Ditch this penny stock.
  • The stars may be aligning for Kohl's stock
  • Traders react to spiking natural gas prices.
  • Plus, JCP buried by an earnings miss; analysts coming for beleaguered PG&E; and Warren Buffett's big bank investment.

Stock Futures Chart Nov 15

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 951,926 call contracts traded on Wednesday. This is compared to 773,688 put contracts. The single-session equity put/call ratio rose to 0.81, and the 21-day moving average climbed to 0.69.
  2. JC Penney Company Inc (NYSE:JCP) stock is down 9.8% in electronic trading, after the retailer reported third-quarter revenue that fell short of expectations. The company also disclosed a same-store sales miss, and withdrew its full-year profit guidance. JCP is set to open at a new record low for the third straight day, and has shed 60% in six months.
  3. After hitting a 15-year low yesterday, PG&E Corporation (NYSE:PCG) is under pressure once more today, down 3.3% ahead of the bell. Mizuho slashed its price target to $27 from $48 in response to the insurance liabilities the utility name faces for its role in the Camp and Woolsey wildfires in California. The stock is currently on the short-sale restricted (SSR) list, and is on track for its worst week ever.
  4. The shares of JPMorgan Chase & Co. (NYSE:JPM) are up 1.3% in electronic trading, after Warren Buffet's Berkshire Hathaway (BRKA) disclosed a new long position with the banking giant worth $4 billion. A move higher today would push JPM above its year-to-date breakeven level.
  5. Fed Vice Chair Randal Quarles will speak again today, as will Minneapolis Fed President Neel Kashkari. Weekly jobless claims, the Philadelphia Fed business outlook survey, monthly retail sales, and the Empire State manufacturing survey will be released. There will also be data on the latest import and export prices, business inventories, and the Fed's balance sheet. The holiday-delayed crude inventories report will also hit the Street. On the earnings front, Nvidia (NVDA), Applied Materials (AMAT), Canadian Solar (CSIQ), Datawatch (DWCH), Nordstrom (JWN), and Sonos (SONO) will all report.

buzz stocks nov 15

Europe Stocks Mixed After U.K. Shocker

Asian markets finished mostly higher today, as traders cheered reports that China responded to U.S. trade reform demands -- potentially paving the way for formal negotiations. In response, China's Shanghai Composite jumped 1.4%, while Hong Kong's Hang Seng added 1.8% on a positive earnings reaction for Tencent. South Korea's Kospi also gained ground, adding 1%. Japan's Nikkei couldn't capitalize on regional tailwinds, though, slipping 0.2% as bank and tech stocks fell.

Stocks in Europe are mixed at midday on shocking news no fewer than three U.K. senior cabinet members have resigned after Prime Minister Theresa May submitted her Brexit draft on Wednesday -- including Brexit Secretary Dominic Raab. At last check, London's FTSE 100 is up 0.2% as the pound plunges. The German DAX is also flirting with a 0.2% lead, though the French CAC 40 is down 0.3%.

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