Stock Futures Climb as Trade Deal Signing Approaches

Tilly's was the latest retailer to give weak holiday numbers

by Josh Selway

Published on Jan 13, 2020 at 9:07 AM

U.S. stock futures are signaling a bullish start to the week. Coming off Friday's dip, the Dow Jones Industrial Average (DJI) is setting up for a triple-digit gain at the open, while the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) look ready to follow suit. The risk-on backdrop comes as investors look toward the signing of the "phase one" trade deal between the U.S. and China, which is expected this week.

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

US stock futures jan 13

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.52 million call contracts traded on Friday compared to 792,527 put contracts. The single-session equity put/call ratio moved up to 0.52, while the 21-day moving average was 0.52.
  2. Tilly's Inc (NYSE:TLYS) is the latest retailer to give weak holiday sales figures. The company said same-store sales fell 2% for the holiday period, which follows weak numbers last week from sector peers Urban Outfitters (URBN) and L Brands (LB).
  3. The shares of genetic testing stock InVitae Corp (NYSE:NVTA) are up 5.9% before the open after the company yesterday gave investors a preliminary update on its 2019 financial results. The company said test volume grew by almost 60% year-over-year, and the stock will now try to take out its 50-day moving average for the first time in about a month.
  4. Another name on the rise this morning is TerraForm Power Inc (NASDAQ:TERP), thanks to news Brookfield Renewable Partners (BEP) is offering to buy the company for nearly $4 billion. TERP shares are up 10.6% before the open, set to add to their 34% year-over-year lead.
  5. Speeches from both Boston Fed President Eric Rosengren and Atlanta Fed President Raphael Bostic are on tap today. There no earnings of note.

buzz stocks jan 13

Trade Deal Hopes Prop Up Asian Equities

Asian stocks started the week off higher, as investors await the official signing of the "phase one" trade deal between the U.S. and China. China's Shanghai Composite added 0.8% and Hong Kong's Hang Seng gained 1.1%, with tech stocks Sunny Optical and Lenovo powering the latter. South Korea's Kospi tacked on 1%, while Japan's Nikkei was closed for a holiday.

Over in Europe, markets are sluggish at midday. London's FTSE 100 is 0.4% higher despite a gross domestic product (GDP) reading that shrank in November, fueling speculation the Bank of England (BoE) will cut interest rates. Rounding out the region, the French CAC 40 is up 0.1%  and the German DAX is fractionally lower, at last check.


A Schaeffer's exclusive

TOP STOCK PICKS 2020

Access your FREE insider report before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Security Stock Targeting Terrorism
Click to continue to advertiser's site.
Earnings, China Deal Signing Guides Stocks to Fresh Highs
Traders were greeted with some M&A buzz, too
Twitter Stock Drops on Analyst Slam
TWTR has been attempting to recover from its fourth-quarter lows
The Security Stock Targeting Terrorism
Click to continue to advertiser's site.