Stock Futures Mixed as Boeing Crash Weighs

Strong ADP private payrolls data also gave stocks a boost

Deputy Editor
Jan 8, 2020 at 9:30 AM
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U.S. stock futures are mixed this morning, as investors attempt to digest a slew of global and domestic headlines. Last night's report that a U.S. airbase came under fire in western Iraq sent overnight trading into a tailspin. Investor fears eased, however, as news surfaced that the attacks did not cause any casualties and no oil infrastructures were targeted. The ADP private payrolls data also came in higher than expected for December, with 202,000 new positions reported. On the flip side, Boeing (BA) is under heat once again, after a 737-800 model crashed minutes after take off in Tehran, leaving no survivors. In response, the Dow Jones Industrial Average (DJI) is signaling a lower open, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) cling to modest gains.

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

Futures Chart Jan 8

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.3 million call contracts traded on Tuesday, compared to 580,154 put contracts. The single-session equity put/call ratio moved down to 0.44, while the 21-day moving average was 0.54.
  2. Verizon Communications Inc. (NYSE:VZ) is getting a boost after J.P. Morgan Securities lifted its price target on the telecommunications giant to $66 from $65. The stock is now up 0.3%, to trade at $59.80 in electronic trading. 
  3. The shares of Kroger Co (NYSE:KR) are inching lower after announcing that its Simple Truth brand will introduce plant-based burgers under a new line called Emerge, at prices lower than competitor Beyond Meat (BYND). The stock is down 0.5% to trade at $28.46 this morning. 
  4. Macy's Inc (NYSE:M) stock is surging after the company announced a lower-than-expected decline of 0.6% in same-store sales for its holiday quarter. The stock is up nearly 4% to trade at $18.32 in response. 
  5. MBA mortgage applications are due out, as well as data on consumer credit. It will be a busy day for earnings, too, with BBBY, Constellation Brands, Helen of Troy (HELE), and UniFirst (UNF) all set to roll out their quarterly reports.

Buzz Chart Jan 8

U.S.-Iran Tensions Send Asian Markets Lower

Iran's retaliation against the U.S. sent markets in Asia lower across the board. Japan's Nikkei lost 1.6% after trading more than 2% lower at its session lows, as Japanese Prime Minister Shinzo Abe reportedly canceled a scheduled weekend trip to the Middle East. China's Shanghai Composite and Hong Kong's Hang Seng gave back 1.2% and 0.8%, respectively, while South Korea's Kospi closed down 1.1%.

Meanwhile in Europe, stocks are inching higher, boosted by Ifo Institute data that showed eurozone economic growth will be 0.3% in the fourth quarter, up from 0.2% in the third quarter. London's FTSE 100 is flat despite rough outings from hospital chain NMC Health and grocery giant Sainsbury, with the latter pressured by a drop in same-store sales. The French CAC 40 is up 0.2%, while the German DAX is 0.3% higher, shaking off weaker-than-expected factory orders for November.

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