"Avengers: Endgame" pulled in a record $1.2 billion globally its first weekend
Dow Jones Industrial Average (DJI) futures are signaling a slightly higher start, thanks to strong gains for Walt Disney (DIS) stock, which is up 1.9% ahead of the bell after "Avengers: Endgame" pulled in a record $1.2 billion globally in its opening weekend. The upside is being contained as Boeing (BA) shares slip ahead of the 737 Max aircraft maker's annual shareholders meeting today.
Traders are also digesting an early inflation update, with the core personal consumption expenditures (PCE) index coming in flat for March. U.S.-China trade talks are also on Wall Street's radar, with negotiations between the two nations set to kick off in Beijing this week.
Continue reading for more on today's market, including:
- 2 retail stocks blasted by Amazon buzz.
- Signal says pick up cheap calls on booming Ollie's Bargain Outlet.
- Analysts issued new "buy" ratings on this pair of weed stocks.
- Plus, a big upgrade for Target; Spotify set to soar post-earnings; and the airline Deutsche Bank is buying.
5 Things You Need to Know Today
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The Chicago Board Options Exchange (CBOE) saw 1.22 million call contracts traded on Friday, compared to 772,592 put contracts. The single-session equity put/call ratio rose to 0.63, while the 21-day moving average stayed at 0.60.
- Barclays upgraded Target Corporation (NYSE:TGT) to "overweight" from "equal weight," and lifted its price target to $115 from $85 -- a 49.1% premium to last Friday's close at $77.12. Analyst Matthew McClintock -- the "biggest bear on TGT" -- said there's been a "narrative change" on the retailer, and it's time to buy the dip. Target stock is up 2.4% ahead of the bell.
- Music streaming service Spotify Technology SA (NYSE:SPOT) reported stronger-than-anticipated first-quarter revenue of $1.69 billion, and said paid premium subscribers hit 100 million in the three-month period. After closing last week at $138.25, SPOT stock is up 3.2% in electronic trading -- potentially good news for one group of options bulls.
- Deutsche Bank upgraded American Airlines Group Inc (NASDAQ:AAL) to "buy" from "hold," saying "the resetting of expectations by management essentially establishes a 'floor' for AAL's share price." Cowen and Company, on the other hand, cut its price target to $41 from $42. AAL stock is 1.1% higher in pre-market trading, but is staring up at a key trendline.
- Personal income and outlays and the Dallas Fed manufacturing survey are due. Google parent Alphabet (GOOGL), AK Steel (AKS), MGM Resorts (MGM), Spotifty, Transocean (RIG), Western Digital (WDC), and Yum! China (YUMC) will report earnings.
Asian Stocks Mixed as Japan Kicks Off "Golden Week"
Asian markets were mixed today, as Japan kicks off its 10-day "Golden Week" holiday. China’s Shanghai composite dropped 0.8%, following a 5.5% weekly loss last week – its worst since October. Elsewhere, Hong Kong’s Hang Seng was up 1%, while South Korea’s Kospi tacked on 1.7% on a pre-earnings surge from Samsung.
Europe is mostly lower at midday, with investors looking toward this morning’s eurozone data, which showed a 10th straight monthly drop in economic sentiment. The French CAC 40 and German DAX are both down 0.2%, while the London FTSE 100 is 0.08% higher.