Retail stocks will be in focus as Black Friday data rolls in
Stock futures are signaling a positive open today, as U.S. markets try to bounce back from last week's heavy selling. The Dow Jones Industrial Average (DJIA) is set to open up more than 200 points, and the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are eyeing strong starts, too, thanks to pre-market gains from tech stocks.
The retail and energy sectors should also be in focus today. For the former, Black Friday and Cyber Monday data will be the main story, putting names like Amazon.com (AMZN), Walmart (WMT), and Target (TGT) in the spotlight. Meanwhile, rising oil prices could help energy names, with January-dated crude futures up 92 cents, or 1.8%, at $51.34 per barrel.
Continue reading for more on today's market, including:
- 3 oil stocks facing sector headwinds.
- 2 reasons to eye Dollar General stock before earnings.
- This Dow stock was buzzing on China news.
- Plus, a solar stock set to soar; Campbell Soup's latest activist buzz; and General Motors could make big announcement.
5 Things You Need to Know Today
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The Chicago Board Options Exchange (CBOE) saw 418,598 call contracts traded in Friday's shortened session, compared to 357,318 put contracts. The single-session equity put/call ratio climbed to 0.85, and the 21-day moving average edged up to 0.71.
- JinkoSolar Holding Co., Ltd. (NYSE:JKS) is trading up 12.3% before the open, after the company's third-quarter earnings report. Earnings per share and revenue both topped forecasts for the period, and the outlook for fourth-quarter solar module shipments came in higher than expected. JKS stock is trying to recover from last month's five-year low of $7.11, which came shortly after disappointing earnings from sector peer First Solar (FSLR).
- Campbell Soup Company (NYSE:CPB) will be in focus today, thanks to reports the company is nearing a deal with activist investor Third Point LLC. Campbell will reportedly give Third Point two board seats, and a shareholder vote is expected later this week. CPB stock has struggled this year, now trading near its 200-day moving average, and options traders have been active during the activist buzz.
- Another big name in the headlines today is General Motors Company (NYSE:GM), with reports indicating the company could announce it's shutting down an assembly plant in Ontario. The auto giant already halted two renovation projects earlier this month. GM shares are edging higher before the open.
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The week will start off slow with only the Chicago Fed National Activity Index and the Dallas Fed manufacturing survey. Buckle (BKE) will report earnings.
Hong Kong Stocks Rise; Brexit Buzz Boosts Europe
Asian markets started the week mostly higher, with Hong Kong's Hang Seng surging 1.7% on a strong day for tech giant Tencent. Japan's Nikkei tacked on 0.8% after the long holiday weekend with retailers FamilyMart and Nitori seeing notable upside, while South Korea's Kospi gained 1.2%. China's Shanghai Composite gave back early gains to settle down 0.1%.
European markets are higher after the European Union (EU) on Sunday okayed British Prime Minister Theresa May's Brexit plan. Plus, the European Commission is reportedly willing to compromise with Italy over the country's budget plan. Against this backdrop, the German DAX is up 1.2%, while London's FTSE 100 and the French CAC 40 are both flirting with 0.7% gains.