Stock Futures Climb Ahead of China Press Conference

China is holding a press briefing this morning to discuss the limited trade agreement

Managing Editor
Dec 13, 2019 at 9:23 AM
facebook twitter linkedin

Fresh off reports of a "phase one" trade deal being drawn up, Dow Jones Industrial Average (DJI)S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) futures are confidently higher today. But while Bloomberg reported that the U.S. and China agreed to a limited deal that would scrap additional U.S. tariffs set to go into effect this Sunday, Dec. 15, and reduce current tariffs, Chinese state media has yet to confirm any such thing. Instead, Chinese officials will hold a press conference this morning to discuss "relevant progress." Elsewhere, November retail sales rose by 0.2%, falling short of the 0.5% rise economists were expecting. 

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

  • All signs point to an Intel stock rally.
  • It could be game over for Electronic Arts stock.
  • Plus, bull notes galore for Adobe after earnings; SRPT gets big FDA win; and SNAP upgraded.  

SDB Sectors Dec 13

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.4 million call contracts traded on Thursday, compared to 628,085 put contracts. The single-session equity put/call ratio slipped to 0.45 -- its lowest level since 2014 -- while the 21-day moving average stayed at 0.59.
  2. Adobe Inc (NASDAQ:ADBE) stock is up 2.6% ahead of the bell, after the software icon reported fiscal fourth-quarter earnings and revenue that topped analyst forecasts. So far, 12 brokerages upped their price targets, the highest coming from Jefferies to $370. ADBE is set to blow past its July 19 record high of $313.11.
  3. Sarepta Therapeutics Inc (NASDAQ:SRPT) stock is up 29% in electronic trading, after the Food and Drug Administration (FDA) approved the drugmaker's treatment for Duchenne Muscular Dystrophy (DMD). SRPT is set to fill its mid-August bear gap today, with its recent pullback contained by its 30-day moving average.
  4. The shares of Snap Inc (NYSE:SNAP) are up 2.5% before the open, receiving an upgrade from JMP Securities to "outperform" from "market perform." The analyst in coverage is optimistic the social media name can grow its user base. SNAP has more than doubled in 2019, yet the majority of analysts remain on the sidelines.
  5. Today's a busy day on the economic front, with business inventories and import prices on the schedule. Plus, New York Fed President John Williams will speak. There are no notable earnings slated.

Buzz Chart Dec 13

Asian Markets Break Out Amid Deal Reports; Europe Unpacks U.K. Election

Stocks in Asia jumped overnight on reports of a phase one trade deal between the U.S. and China. The Nikkei and Hang Seng both jumped 2.6% while the Shanghai Composite in China rose 1.8%. South Korea’s Kospi also snagged a win, rising 1.5%. All this came despite no confirmation on a deal out of China.

Traders in Europe are also responding bullishly to the trade buzz, along with a convincing victory for the Conservative Party in the U.K. general election. London’s FTSE 100 is rallying 1.7% on the news, while the French CAC 40 and German DAX both sport gains of 0.8%. 



Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Schaeffer's Daily Bulletin Offer


Special Offers from Schaeffer's Trading Partners