Dow Futures up 300 Points as Earnings Roll In

The travel and tech sectors are seeing an overall lift, though

Managing Editor
Feb 4, 2020 at 9:21 AM
facebook twitter linkedin

U.S. markets are eyeing another open in the black, the Dow Jones Industrial Average (DJI) upwards of 300 points in electronic trading, while the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are on track toward notable opens of their own. The tech and travel sectors looks to be a main driver this morning, with Apple (AAPL) and Carnival (CCL) set to open 2% and 4.4% higher, respectively. Omitted from the tech outperformance, however, is Alphabet (GOOGL), which is deep in the red after reporting disappointing sales and YouTube revenue for the fourth quarter.

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

  • Where the VIX could go from here, according to Schaeffer's Senior V.P. of research Todd Salamone.
  • The broadband stock that's set to bounce
  • Plus, one retailer surging on earnings; a cruise line's record-breaking report; and ELF lands analyst praise.

new futures chart feb 4

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.29 million call contracts traded on Thursday compared to 648,800 put contracts. The single-session equity put/call ratio moved to 0.50, and the 21-day moving average was 0.54. 
  2. Retail giant Ralph Lauren Corp (NYSE:RL) is up 7% in electronic trading, enjoying a post-earnings lift after sharing a fiscal third-quarter earnings and revenue beat. RL has had a volatile year, recently pulling back to its 70-day moving average, but is now eyeing an open near its $120 ceiling.
  3. Also enjoying a post-earnings lift this morning is Royal Caribbean Cruises Ltd (NYSE:RCL), last seen up 5%, at $122 in early trading, following record-breaking fourth-quarter results. RCL has struggled since late-January, and sported a 12.8% year-to-date deficit coming into today.
  4. Cosmetics name e.l.f. Beauty Inc (NYSE:ELF) is moving 6.3% higher in pre-market trading, surging on the heels of an upgrade to "overweight" out of Piper Sandler. This was triggered by a TikTok campaign the company had put out in late 2019 called "#elfingamazing," which has since gathered billions of views. ELF is now eyeing its highest open since late-November, pushing above the recent resistance of the $16 level.
  5. Today will bring factory orders data, and a slew of earnings, including reports from Walt Disney (DIS), BP (BP), Chipotle Mexican Grill (CMG), Ford Motor (F), Snap, and Sony (SNE). 

Buzz Chart FEb 4




These investors are using the market's volatility to their advantage and scoring triple-digit gains on many of their trades.

Even in today's sideways bear market, this trading strategy has continued to provide consistency and profitability to a small group of investors. By using this approach, these traders are removing directional risk and still hitting triple-digit returns. If you want access to this strategy, and lower risk with higher returns sounds good to you, then don't wait another minute.

Join us now to receive our next trades the moment they come out!


Common mistakes options traders make


Special Offers from Schaeffer's Trading Partners