Dow Futures Rise as Data Rolls In

There are a number of big post-earnings moves this morning, too

by Josh Selway

Published on Feb 19, 2020 at 9:22 AM

U.S. stock futures are trading above fair value this morning, as the Dow Jones Industrial Average (DJI) looks to snap its three-day losing streak. Traders so far are monitoring the release of the producer price index (PPI) for January, which increased more than expected for the month. Later on, investors will be met with the Fed's meeting minutes from January, as well. In the meantime, a rebound in tech names like Apple (AAPL) and Tesla (TSLA) could also help push the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) higher to start the day.

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

US stock futures feb 19

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.48 million call contracts traded on Tuesday, to 751,922 put contracts. The single-session equity put/call ratio moved to 0.51, and the 21-day moving average was 0.54.
  2. The first name we recommend tracking this morning is gunfire detection specialist Shotspotter Inc (NASDAQ:SSTI). The stock is up 18% in pre-market trading thanks to its strong fourth-quarter results, which inspired a price-target hike to $44 from $30 at Craig-Hallum. This price action would put SSTI above its 200-day moving average for the first since since July. The equity had been steadily gaining since hitting annual lows in the $20 region back in October.
  3. Another earnings winner this morning is Garmin Ltd. (NASDAQ:GRMN), as the navigation technology expert gains 7.8% before the open. Revenue and earnings per share both topped estimates for the fourth quarter, with the latter metric in particular blowing away analysts' expectations. GRMN shares had been consolidating in recent months right near the 50-day moving average and 52-week-high territory.
  4. On the loser's side is Scientific Games Corp (NASDAQ:SGMS). The shares of the gambling technology company are pacing for a 14% drop at the open due to a quarterly loss. Even with the expected price action, though, SGMS would be above the $25 region that has contained pullbacks this year.
  5. Data on housing starts and building permits comes out today, too. On the earnings front, focus will be turned toward Cheesecake Factory (CAKE), Hyatt Hotels (H), Immunomedics (IMMU), and Mosaic.

buzz stocks feb 19

European Stocks Rise

Markets in Asia were mixed, as investors keep a close eye on China’s return to more normal working conditions following an extended production shutdown in the face of the deadly coronavirus outbreak. The region’s Shanghai Composite lost 0.3%, while the Hang Seng in Hong Kong tacked on 0.5%, and the Kospi in South Korea managed a nearly 0.1% win. Meanwhile, Japan’s Nikkei was 0.9% higher, as traders digested a 2.6% year-over-year drop in export data, which came in much lower than the 6.9% dip expected by analysts.

Over in Europe, stocks are higher amid the European Union’s initial launch of a series of white paper proposals, meant to help companies in the region capitalize on their massive amounts of industrial numbers, while keeping major U.S. tech names in check. At last glance, London’s FTSE 100 is up 0.7%, the French CAC 40 has climbed 0.6%, and the German DAX has jumped 0.5%.  


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