Dow Futures Lower on Economic Data

Orders for core capital goods unexpectedly fell in December

Deputy Editor
Feb 21, 2019 at 9:13 AM
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Dow Jones Industrial Average (DJI) futures are slightly lower today, as Wall Street begins to digest an onslaught of economic data. So far, traders are reacting to the latest data on durable goods orders, with orders for core capital goods unexpectedly falling in December. In addition, the four-week moving average of weekly jobless claims rose to a new annual high, and the Philly Fed business index turned negative in February. This comes on the heels of the latest Fed meeting minutes, which highlighted the central bank's concerns about the economy. Investors also continue to eye trade talks between the U.S. and China, with high-level negotiations expected to continue through Friday.

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

  • Bear signals are flashing for these 2 energy stocks
  • 2 stocks soaring into uncharted territory after earnings. 
  • The tech stock slammed by Stifel ahead of earnings.
  • Plus, Nike faces scrutiny over shoe safety; Domino's earnings flop; and Foot Locker stock looks to extend its win streak. 

Futures Chart Feb 21

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.14 million call contracts traded on Wednesday, compared to 621,668 put contracts. The single-session equity put/call ratio fell to 0.54, and the 21-day moving average stayed at 0.61.
  2. Nike Inc (NYSE:NKE) stock is down 1.5% in pre-market trading, after the company fell under scrutiny when Duke basketball player Zion Williamson was injured due to a Nike shoe that split during a game. NKE has been climbing back towards its Sept. 21 record high -- coming just within striking distance last week before running into familiar resistance at the $86 area. 
  3. Domino's Pizza, Inc. (NYSE:DPZ) shares are 6.6% lower ahead of the bell, after the company posted disappointing fourth-quarter earnings and same-store sales growth. The stock is pacing for its fifth straight loss and just dipped below the 20-day moving average for the first time since early January. 
  4. The shares of Foot Locker, Inc (NYSE:FL) are up 1.1% in electronic trading, after the athletic company announced a 10% increase in its quarterly dividend and a new $1.2 billion buyback program. FL stock is now pacing for its eighth straight win as it charts territory not seen since May 2017. 
  5. The economic schedule is jam-packed today. Markit's flash composite purchasing managers index (PMI), existing home sales, weekly crude inventories, and the Fed's balance sheet are also expected. As if that's not enough, Atlanta Fed President Raphael Bostic will speak in the morning. Plus, Acacia Communications (ACIA), Applied Optoelectronics (AAOI), BioMarin Pharmaceutical (BMRN), Dropbox (DBX), First Solar (FSLR), Gogo (GOGO), Infinera (INFN), Intuit (INTU), Kraft Heinz (KHC), Newmont Mining (NEM), Roku (ROKU), Universal Display (OLED), and Wendy's (WEN) all step into the earnings confessional.

stock market news feb 21

 

Asian Stocks Mixed After Fed Minutes; Europe Digests Disappointing Data 

Stocks in Asia were a mixed bag today, as investors digested the latest Fed meeting minutes, which highlighted a possible slowing of global economic growth in China and Europe. China's Shanghai Composite gave back 0.3%, after spending time on both sides of breakeven. Hong Kong's Hang Seng gained 0.4% in the final hour, though, thanks to a surprise quarterly profit from PC maker Lenovo. Japan's Nikkei added 0.2%, while South Korea's Kospi shed 0.05%.

In Europe, markets are trading mostly lower after some unexpectedly subpar economic data. Eurozone factory output declined last month, with Markit's flash manufacturing purchasing managers index (PMI) cratering to a lower-than-forecast 49.2 -- in contractionary territory, and its lowest point in nearly six years. London's FTSE 100 is down 0.9% at last check, while the French CAC 40 is 0.03% lower. The German DAX is the bucking the regional trend, though, and is clinging to a 0.2% gain.

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