Dow Futures Higher on Trade Optimism

Trump advisors have reportedly discussed a mid-March meeting with China

by Lillian Currens

Published on Feb 11, 2019 at 9:33 AM

Dow Jones Industrial Average (DJI) futures are signaling a gain out of the gate, as the trade-related pessimism that plagued stocks last week has abated. Advisors to President Donald Trump have reportedly talked about a mid-March meeting with Chinese President Xi Jinping, after last week Trump said a meeting between the two leaders likely wouldn't happen before the March 1 deadline. In addition, lower-level trade talks will take place this week in Beijing.

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

  • Check out of this hotel stock before earnings, says signal.  
  • Why Kellogg stock is crying over even more spilled milk. 
  • Analyst: Ditch this restaurant stock now. 
  • Plus, Tim Hortons parent reports earnings; and analysts weigh in on Tesla and Avis Budget. 

stock futures feb 11

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.07 million call contracts traded on Friday, compared to 662,819 put contracts. The single-session equity put/call ratio dropped to 0.62, and the 21-day moving average stayed at 0.63.
  2.  Burger King parent Restaurant Brands International (NYSE:QSR)  stock is up 2.1% in pre-market trading, after reporting fourth-quarter earnings that exceeded analysts' expectations. The security enjoyed a big bull gap on Jan. 23, soaring 9.8% amid M&A chatter, and has since been consolidating atop the $62 level.
  3. Tesla Inc (NASDAQ:TSLA) shares are headed 2.3% higher, after Canaccord Genuity upgraded the stock to “buy” and lifted its price target to $450 from $330. Separately, the automaker reportedly cut over half of its employees at its North American delivery division. The stock attempted a recent rebound after hitting two-month lows, but was thwarted by its 40-day moving average.
  4. The shares of Avis Budget (NASDAQ:CAR) are up 6.1% in electronic trading, after Goldman Sachs upgraded the car rental concern to "buy" from "sell," and hiked its price target to $35 from $30. The shares have been trading in a channel of lower highs and lows since August, but are now pacing to pop over their 60-day moving average -- a familiar area of resistance for the stock. What’s more, Avis is slated to report earnings next Thursday, Feb. 21.
  5. Today's economic schedule will be relatively muted, with Aurora Cannabis (ACB), Baidu (BIDU), Chegg (CHGG), Diamond Offshore Drilling (DO), and Vipshop (VIPS) reporting earnings. 
     

stock market news feb 11

 

Asia, Europe Markets Strong on Trade Optimism

Stocks in Asia started the week off strong, as optimism set in ahead of this week's U.S.-China trade talks. China's Shanghai Composite, closed all last week for the Lunar New Year, added 1.4%. Hong Kong's Hang Seng gained 0.7%, thanks to a big day from tech giant Tencent. Elsewhere, a positive session for Samsung Electronics helped nudge South Korea's Kospi up 0.2%, while Japan's Nikkei was closed for holiday.

Markets in Europe are higher, as well, enjoying broad market tailwinds ahead of the next round of U.S.-China trade negotiations. London's FTSE 100 is up 0.8% at last check, despite lackluster data out of Britain that showed gross domestic product (GDP) last year grew at its slowest pace since 2012. The French CAC 40 is leading its regional peers with a 1.1% gain, while the German DAX isn't far behind, up 1%.

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