S&P Futures Dip Day After Record High

Elsehwere, oil prices are getting a boost this morning

Jun 21, 2019 at 9:17 AM
facebook X logo linkedin

The S&P 500 Index (SPX) could be due to pull back today following a run to fresh highs on Thursday. Futures on the Dow Jones Industrial Average (DJI) and Nasdaq-100 Index (NDX) are below fair value, too, with some traders potentially already turning their focus to next week's big G-20 meeting, where President Donald Trump is expected to meet with Chinese President Xi Jinping. Meanwhile, oil prices are on the rise again, as U.S.-Iran tensions remain elevated and headlines surface about an explosion at a gasoline refinery in Philadelphia. At last check, August-dated crude futures were trading up 0.7% at $57.48 per barrel.

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

US stock futures june 21

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.15 million call contracts traded on Wednesday, compared to 599,359 put contracts. The single-session equity put/call ratio fell to 0.52, while the 21-day moving average was 0.66 again.
  2. J.P. Morgan Securities lowered its price target on Micron Technology, Inc. (NASDAQ:MU) to $50 from $64, expecting headwinds from this year's Huawei restrictions and tough pricing for memory chips. This comes ahead of MU's earnings release next Tuesday, June 25, and follows Huawei-related weakness in fellow semiconductor concerns Broadcom (AVGO) and Skyworks Solutions (SWKS).
  3. Blue chip Caterpillar Inc. (NYSE:CAT) also received negative analyst attention this morning, with Atlantic Equities downgrading the shares to "underweight" from "neutral." The brokerage firm is concerned about a slowdown in the global economy, and this comes after bearish trading had already picked up on CAT stock earlier this month.
  4. One name to watch in healthcare today is Regeneron Pharmaceuticals Inc (NASDAQ:REGN), after the company's investigational antibody -- developed with Sanofi (SNY) -- met its main goal in a Phase 2 study for controlling asthma, and iTs secondary goal to improve lung function. REGN shares hit 52-week lows earlier this month, but the round $300 level looks to be acting as a solid floor.
  5. In addition to quadruple witching, Markit's flash composite purchasing managers index (PMI), the Baker-Hughes rig count, and existing home sales data are all on tap. Plus, Fed Governor Lael Brainard and Cleveland Fed President Loretta Mester will speak. CarMax (KMX) closes out the week on the earnings front. Next week, the G-20 meeting will be the main focus.

stock market news june 21

Nikkei Hit By Weak Economic Data

Markets in Asia cooled off a bit today, as investors turned their attention toward rising geopolitical tensions in the Middle East. Japan’s Nikkei was hit the hardest with a 1% drop, after preliminary PMI data showed new orders fell to a three-year low this month. Hong Kong’s Hang Seng lost 0.3%, while the Kospi in South Korea fell 0.3%, dampened on disappointing exports data. The Shanghai Composite in China was the only major Asian index to sport a gain, up 0.5% for its best week since early April.

European markets are mixed midday, with London’s FTSE 100 up 0.2%, as energy shares gain. The French CAC 40 sits right below breakeven as financial stocks sell off with Natixis, while the German DAX is 0.1% lower.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI