Stock Futures Rise as Earnings Roll In

Stocks are pacing for a positive weekly finish

Feb 14, 2020 at 9:18 AM
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U.S. stock futures are trading above fair value this morning, hinting at more record highs for the major indexes and another weekly win. The Dow Jones Industrial Average (DJI) is eyeing a moderately higher open, as traders consider a number of earnings releases this morning. Leading the way is an impressive report from semiconductor company Nvidia (NVDA), which could provide tailwinds to the broader technology sector. As such, futures are pointing to a positive start for the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX), as well, 

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

  • Call traders are turning out for one hot healthcare stock
  • Bull signal says don't sweat the Waste Management pullback.
  • Plus, weed stock soars; Expedia impresses despite coronavirus headwinds; and Yelp falls flat.

us stock futures feb 14

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.38 million call contracts traded on Thursday, to 751,485 put contracts. The single-session equity put/call ratio moved to 0.55, and the 21-day moving average was 0.53.  
  2. One of the biggest earnings winners this morning is Canopy Growth Corp (NYSE:CGC), as the weed stock is set to gain 22% at the open. Traders are cheering the company's smaller-than-expected quarterly loss, along with its plans to continue lowering costs. Even still, this price action would leave CGC stock in territory just charted last month.
  3. The shares of Expedia Group Inc (NASDAQ:EXPE) are also set to surge today. EXPE stock is up 11% in pre-market trading, thanks mostly to the travel firm's cost-cutting plans and growth outlook, the latter of which specifically impressing investors considering the coronavirus outbreak. This price action should have the shares opening near their 200-day moving average.
  4. One name pulling back post-earnings is Yelp Inc (NYSE:YELP), as the review site sees a ton of bearish attention following weak quarterly results. YELP stock is pacing for a 9% drop at the open, which will send it back below previous resistance at the 320-day moving average.
  5. Data on retail sales, industrial production, and business inventories, as well as the consumer sentiment index and the import price index will all be on the docket.

Buzz Chart Feb 14

Overseas Trading Mixed

Stocks in Asia were in rebound mode today, as investors considered the lasting economic implications of the coronavirus. The biggest gainer was the South Korean Kospi, which added 0.5%. China’s Shanghai Composite wasn’t far behind with a 0.4% pop, as China’s promise to slash tariffs on $75 billion in U.S. goods went in to effect, while the Hang Seng in Hong Kong tacked on 0.3%. The Nikkei in Japan was the only outlier, off 0.6%, dragged down by Fast Retailing and automaker Nissan, with the latter slashing its full-year forecast by roughly 40%.

Over in Europe, markets are mostly higher at midday. The London FTSE 100 is marginally up on news that Rishi Sunak was appointed finance minister in the U.K. yesterday, while the German DAX is 0.3% higher, despite data surfacing that showed the region’s economy stagnated in the fourth quarter. Meanwhile, the French CAC 40 is off 0.1%.

 

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