Dow Futures Signal 600 Point Pop on Super Tuesday Results

UnitedHealth is propping up the blue chip index this morning

Digital Content Manager
Mar 4, 2020 at 9:13 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJI) futures are signaling an over 600 point surge going into today's trading, as Wall Street unpacks former Vice President Joe Biden's big wins on Super Tuesday, pulling ahead of Senator Bernie Sanders in the delegate count for the Democratic Primaries. This has the healthcare sector -- specifically UnitedHealth (UNH) -- eyeing big pre-market wins. Meanwhile, the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also looking at notable opens higher. 

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

  • Why Forty Seven stock has attracted so much attention. 
  • A deep dive into last week's historic trading volume, from CEO and founder Bernie Schaeffer. 
  • Plus, Home Depot gets a bull note; ZGNX stock inches higher; and Nordstrom's 2020 outlook misses the mark. 

Stock Futures Chart March 4

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.03 million call contracts traded on Tuesday, compared to 752,813 put contracts. The single-session equity put/call ratio moved to 0.73, and the 21-day moving average was 0.60.
  2. Home Depot Inc (NYSE:HD) is once again attempting to erase last week's sell-off this morning after a bull note from Instinet. The analyst upgraded HD to "buy" from "neutral," and lifted its price target to $251 from $240. The blue chip is up 2.5% in pre-market trading. 
  3. Drugmaker Zogenix, Inc. (NASDAQ:ZGNX) was initially lower after offering 8.5 million shares of common stock for $23.50 a share -- a nearly 6% discount to last night's close. The company will put the proceeds into development and possible commercialization toward several experimental drugs including Fintepla, its treatment for patients with Dravet syndrome. However, the equity is brushing off some of these earlier losses with a modest early morning gain of 0.3%. 
  4. Retailer Nordstrom, Inc. (NYSE:JWN) is on a slippery slope this morning, following its fourth-quarter earnings report. The equity is down 7.3% in electronic trading and looking to open at six-month lows after it forecast full-year profits and posted revenue that missed analysts' estimates. Barclays has already downgraded JWN, while three others issued price-target cuts.
  5. Today's calendar will bring the ADP employment report, Markit services PMI, the ISM non-manufacturing index, and the Fed's Beige book. On the earnings docket are reports from Abercrombie & Fitch (ANF), American Eagle (AEO), Bilibili (BILI), Baozun (BZUN), and Campbell Soup (CPB).  

Buzz Chart March 4

Asian, European Markets Strengthened by U.S. Fed Action 

Markets in Asia reacted  favorably to the Fed's emergency rate cut yesterday, and were mostly higher across the board. South Korea's Kospi paced the region with a 2.2% win, after the country proposed an extra budget of 11.7 trillion Korean won, or $9.86 billion, to help fight the COVID-19 outbreak. China's Shanghai Composite gained 0.6%, despite its Caixin/Markit services Purchasing Managers’ Index (PMI) falling to record lows last month. Japan's Nikkei gained roughly 0.1%, while Hong Kong's Hang Seng finished down 0.2%.

Over in Europe, stocks are also lifted by the Fed's emergency actions, in the hope that it serves as a catalyst for other central banks. At last check, London's FTSE 100 is up 1.3%, the French CAC 40 is up 1%, and the German DAX is up 1.1%.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI