Cruise and airline sectors are on the upswing this morning
Futures on the Dow Jones Industrial Average (DJI) are playing leapfrog off last Thursday's big win,
up over up over 380 points this morning thanks to big pre-market surges in the airline and cruise sectors. Successful reopening measures in China are also boosting investor sentiment, and giving U.S.-listed Chinese stocks a lift as well. Both S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also higher, as the latter looks to notch even more highs during today's session.
Continue reading for more on today's market, including:
- DocuSign stock soars
higher on a bull note.
- This oil-and-gas stock shook off workforce cuts.
- Plus, Oracle of Omaha strikes billion-dollar deal; NFLX gets diversity points; and Citigroup likes HOG.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw 1.44 million call contracts traded on Thursday, and 736,859 put contracts. The single-session equity put/call ratio rose to 0.51, and the 21-day moving average rose to 0.52.
- Dominion Energy Inc (NYSE:D) is slightly lower ahead of the bell, after selling its gas assets to Warren Buffets' Berkshire Hathaway for $4 billion. The firm also dissolved its $8 billion Atlantic Coast pipeline deal with Duke
Energy on surging costs and legal delays. At last glance, D is down 0.9% at $81.80, set to snap a four-day win streak.
- The New York Times said Netflix Inc (NASDAQ:NFLX) had a large library of Black content well before other streaming services, many of which are now racing to diversify their libraries. The FAANG stock is up 0.4% this morning to trade at $478.90.
- Citigroup just initiated coverage on Harley-Davidson Inc (NYSE:HOG) with a "buy" rating and a $33 price target -- a 40% premium to Thursday's close. The analyst said the motorcycle stock was attractively valued, and predicted significant turnaround with the company's new CEO. HOG is up 4.5%
at $23.44 ahead of the open.
- Today will bring the
Markit services PMI and the ISM non-manufacturing index.
Asian, European Markets Join Breakout
Stocks in Asia closed higher today, after a sudden surge in trading volume and a breakout for the Shanghai composite improved investor outlook. A possible reason for the uptick in volume is the continent being less affected by the coronavirus
outbreak at the moment. China’s Shanghai Composite rose 5.7%, leading the charge, while Hong Kong’s Hang Seng also saw robust gains and rose 3.8%. Meanwhile, Japan’s Nikkei and South Korea’s Kospi rose 1.8% and
1.7%, respectively.
Across the pond, stocks in Europe are also bouncing back, as investor focus on the prospect of economic recovery and cheer the approval of widely known COVID-19 treatment, remdesivir. At last check, London’s FTSE 100 and the CAC 40 in France are 1.8% higher. Elsewhere, the German DAX was last seen up 1.9%.