Stock Futures Remain Flat as Investors Eye Blue-Chip Shakeup

The S&P 500 is coming off yet another record high

Deputy Editor
Aug 26, 2020 at 9:21 AM
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Futures on the Dow Jones Industrial Average (DJI) are trading just below fair value this morning as investors eye an upcoming index shakeup, replacing three of the current blue-chip members with new names, including (CRM) which posted an impressive earnings report after last night's close

Meanwhile, S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are both poised to open modestly higher, after the former clocked yet another record high yesterday -- its 17th of the year. In other news, U.S. durable goods order rose over 11% in July, well above the 4.3% increase that was expected.

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

Futures Chart August 26

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw over 1.5 million call contracts traded on Tuesday, and 659,980 put contracts. The single-session equity put/call ratio stayed at 0.42, and the 21-day moving average fell to 0.46.
  2. Keurig Dr Pepper Inc (NYSE:KDP) was just upgraded by Morgan Stanley to "overweight" from "equal rate." The firm cited an increase in at-home coffee consumption as the reason for the upgrade. As a result KDP is up 1.6% ahead of the bell.
  3. Housewares retailer Bed Bath & Beyond Inc (NASDAQ:BBBY) is down 0.6% before the open, after the company announced it will cut around 2,800 jobs as part of its new restructuring plan. BBBY expects the move will save it about $150 million per year.
  4. Dick's Sporting Goods Inc (NYSE:DKS) just reported second-quarter earnings and revenue that were well above forecasts. Additionally, its comparable-store sales are up nearly 21%, while e-commerce sales nearly tripled during the quarter. As a result, DKS is up 11.7% in pre-market trading.
  5. Today investors will keep an eye on earnings reports from Bilibili (BILI), Five Below (FIVE), Guess? (GES), Tiffany & Co (TIF), and Williams-Sonoma (WSM) rolling in. 


Asian Stocks Mixed on More Tech News; European Markets Higher on Travel and Leisure Stocks

Stocks in Asia were mixed after today’s session, with investors digesting tech giant Alibaba’s (BABA) Ant Group filing for a concurrent listing on two stock exchanges. China’s Shanghai Composite lead the losses with a 1.3% drop, while Japan’s Nikkei fell a mild 0.03%. Meanwhile, the Kospi in South Korea gained 0.1%, while Hong Kong’s Hang Seng added 0.02%.

In Europe, stocks were mostly higher as travel and leisure stocks gained on optimistic sentiment, and utilities stocks fell. London’s FTSE 100 is struggling for upside, last seen down 0.2%. Elsewhere, the German DAX and French CAC 40 are up 0.4% and 0.2%, respectively.


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