Stock Futures Sluggish Ahead of Earnings, Stimulus Talks

A second stimulus package will be discussed by Congress this week

Managing Editor
Jul 20, 2020 at 9:03 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJI) futures are inching lower to kick off the week, as Wall Street weighs another packed schedule of corporate reports and a continual rise of coronavirus cases in the U.S. Futures on the S&P 500 Index (SPX) are also lower, while futures on the tech-heavy Nasdaq-100 Index (NDX) sit modestly above fair value. Investors are also keeping an eye on political developments in Washington D.C., where lawmakers are set to negotiate a second round of stimulus measures.

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

  • This bank stock couldn't muster the same post-earnings pop as its sector giants.
  • See how Microsoft's job cuts impacted the blue-chip stock.
  • Plus, eBay selling classified ads unit; SBUX gets new "overweight" rating; and Disney pulls ad spending on Facebook.

OV Futures Chart July 20

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.9 million call contracts traded on Friday, and 897,190 put contracts. The single-session equity put/call ratio slipped to 0.46, and the 21-day moving average climbed to 0.50.
  2. eBay Inc (NASDAQ:EBAY) stock is up 1.8% ahead of the open, after the e-retailer approached a deal to sell its classified ads unit to Adevinta. According to the Wall Street Journal, the deal could be worth up to $8 billion. eBay stock is up 61% in 2020.
  3. Starbucks Corporation (NASDAQ:SBUX) stock is 0.6% higher before the bell, after Wells Fargo initiated coverage with an "overweight" rating. The analyst in coverage sees COVID-19 distributions as not effecting the coffee chain as much as other restaurants. Starbucks stock has spent the last two months consolidating below the $75 level. 
  4. The shares of Facebook, Inc. (NASDAQ:FB) are down 0.9% in electronic trading, after Walt Disney (DIS) joined the dozens of high-profile companies in pulling its ad spending on the social media app. FB hit a record high of $250.15 on July 13,a nd is up 18% year-to-date.
  5. The week will start out the week slow, with no economic data and earnings from Cal-Maine Foods (CALM), Halliburton (HAL), and IBM (IBM). 

Buzz Chart July 20

Overseas Markets Mixed as EU Hammers Out Recovery Fund Details

Stocks in Asia were mixed to start off the week, after China kept both its one-year and five-year loan prime rates unchanged, as the country’s economy continues to recover from the coronavirus crisis. As a result, China’s Shanghai Composite closed 3.1% higher. Meanwhile in Japan, the Nikkei was up 0.1%, despite exports diving 26.2% year-over-year, for the month of June. Elsewhere, South Korea’s Kospi and Hong Kong’s Hang Seng both closed 0.1% lower.

Across the pond, stocks are mostly higher, as European Union (EU) leaders continue to work out an agreement over a multi-billion-euro recovery fund after a failed attempt at a compromise on Friday. At last check, the German DAX was up 0.6%, France’s CAC was up 0.1%, and London’s FTSE 100 was down 0.4%.

 
 

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