Dow Set to Rise Again After Inflation Data

Potential stimulus spending out of China helped Asian stocks

Jun 11, 2019 at 9:16 AM
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The Dow Jones Industrial Average (DJI) is yet again set for a positive open, with futures trading more than 100 points above fair value. Another win would be a seventh straight for the index, while the S&P 500 Index (SPX) is also trying to extend its win streak to six. This comes as markets overseas gained on news of potential infrastructure spending in China. On the data front, the producer price index (PPI) for May matched expectations, as inflation remains muted.

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

  • The SPY strike to watch as June expiration approaches, according to Schaeffer's Senior V.P. of Research Todd Salamone.
  • Diabetes data boosted these stocks.
  • 2 stocks that got double upgrades.
  • Plus, drugmaker pops on CBD buzz; Facebook gets upgraded; and discount retailer finds a bull.

US stock futures june 11

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.15 million call contracts traded on Monday, compared to 659,584 put contracts. The single-session equity put/call ratio moved up to 0.58, while the 21-day moving average was 0.69.
  2. Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) is a pre-market winner today, up 8% before the open, after the company received a U.S. patent for a cannabidiol autism treatment. A bullish FDA update sent the shares soaring a month ago, and they're now sporting a year-to-date lead of almost 300%.
  3. Despite the potential antitrust regulations hanging over the tech sector, Facebook, Inc. (NASDAQ:FB) was upgraded to "buy" from "neutral" at Moffet Nathanson. The brokerage firm believes the company's strong fundamentals will offset the regulatory issues.
  4. Another stock on analysts' radar is Dollar Tree, Inc. (NASDAQ:DLTR), with J.P. Morgan Securities giving it an "overweight" rating and $122 price target. This comes after the retailer cut its full-year outlook just a couple weeks back, as the shares test their 50-day moving average.
  5. The NFIB small business optimism index will highlight today's economic schedule. H & R Block (HRB), Dave & Busters (PLAY), and RH Inc (RH) will step into the earnings confessional.

buzz stocks june 11

Asia Markets Rise on Spending Hopes

Asian markets all finished in the black today, with China’s Shanghai Composite leading the indexes with a 2.6% pop, sparked by Beijing’s promise to increase infrastructure funding. The news boosted markets elsewhere, with Hong Kong’s Hang Seng tacking on 0.8%, and South Korea’s Kospi rising 0.6%. The Nikkei in Japan ended higher too, up 0.3% on a softening yen.

Markets in Europe were higher, too, even as a new round of worrying China trade comments from U.S. President Donald Trump rolled in this morning. London’s FTSE 100 is 0.5% higher at midday amid mostly  positive jobs data out of the U.K., the French CAC 40 has risen 0.8%, and the German DAX reopened after a long weekend with a 1.3% surge, sparked by a tariff relief rally in the auto sector.

 

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