Stock Futures Higher as Dow Eyes Another Weekly Win

President Trump will hold a press conference later this morning

Deputy Editor
Feb 15, 2019 at 9:13 AM
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Dow Jones Industrial Average (DJI) futures are modestly higher this morning, with the index pacing for an eighth straight weekly win. Ongoing optimism over U.S.-China trade talks is giving the Dow a boost, with another round of negotiations expected in Washington, D.C., next week. And speaking of D.C., President Donald Trump agreed to sign a government funding bill, but plans to declare a national emergency to get money for his controversial border wall. Trump will hold a 10 a.m. ET press conference today.

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

  • This blue chip scored big with a double upgrade.
  • How options traders just pocketed a quick profit with Progressive stock.
  • 2 pharma stocks to pick up now, say analysts. 
  • Plus, Pepsi pops on earnings beat; Blackstone buyout buzz; and CBS shares drop on an earnings flop. 

Futtures Chart Feb 15

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 998,836 call contracts traded on Thursday, compared to 598,491 put contracts. The single-session equity put/call ratio rose to 0.60, and the 21-day moving average fell to 0.61.
  2. PepsiCo Inc. (NASDAQ:PEP) stock is up 2.4% in pre-market trading, after the company announced fourth-quarter earnings in line with analysts' expectations. However, the company also predicted a drop in full-year profit. PEP stock has been attempting a rebound from its late-December dip, and has recently found a layer of support atop the 100-day moving average.
  3. Blackstone Group LP (NYSE:BX) shares are 0.2% lower ahead of the bell, after the investment management concern and Hellman & Friedman offered to purchase German company Scout24 for $6.4 billion. BX stock yesterday breached its 20-day moving average for the first time since early January, after running into some resistance at the $35 area.
  4. The shares of CBS Corp. (NYSE:CBS) are down 2.2% in electronic trading, after reporting fourth-quarter earnings that fell below analysts’ expectations. However, the media company said it should have 25 million streaming subscribers by 2022. The stock has rebounded off its Dec. 26 three-year low of $41.39, but has run into a ceiling at the 60-day moving average. 
  5. It's a busy day on the economic schedule. The Empire State manufacturing survey, Baker-Hughes rig count, and industrial production data are due out. There will also be updates on import and export prices and consumer sentiment. Atlanta Fed President Raphael Bostic will speak once more in the morning. Deere (DE), Kraft Heinz (KHC), and Newell Brands (NWL) will finish a busy earnings week.  

stock market news feb 15

 

Asia Takes Hit on U.S. Retail Flop; Europe Looks Toward Trade Talks 

Stocks in Asia took a hit today, with concerns mounting about the U.S. economy after disappointing retail numbers yesterday. China's Shanghai Composite lost 1.4%, after inflation data for January came in at 1.7%, lower than the anticipated 1.9%. Hong Kong's Hang Seng shed 1.9%, while South Korea's Kospi gave back 1.3% thanks to a lagging chip sector. Lastly, Japan's Nikkei finished down 1.1% amid a rising yen and a rough day for conglomerate Softbank Group.

In Europe, markets are cautiously higher, as investors await fresh developments on U.S.-China trade talks. London's FTSE 100 is up 0.6% at last check, after U.K. Prime Minister Theresa May's Brexit strategy was rejected once again by Parliament yesterday. Elsewhere, the French CAC 40 is up 1.5% and German DAX is up 1.4%, with the latter getting a boost after classifieds agency Scout24 attracted a private-equity buyout bid.  


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