Stock Futures Mixed Ahead of Powell Stimulus Speech

The Dow is once again eyeing a triple-digit rise

Deputy Editor
Oct 6, 2020 at 9:25 AM
facebook X logo linkedin


After the market notched its strongest session in several weeks on Monday, stock futures are mostly unchanged this morning. Still, futures on the Dow Jones Industrial Average (DJI) are looking to open roughly 150 points higher, as investors await comments from U.S. Federal Reserve Chairman Jerome Powell regarding additional fiscal stimulus. Meanwhile, S&P 500 Index (SPX) futures are eyeing marginal gains as well, while futures on the Nasdaq-100 Index (NDX) are floating just below fair market value.

In addition to the Fed's latest remarks, investors will continue to monitor U.S. President Donald Trump's health. Trump left Walter Reed National Military Medical Center last night, prompting yesterday's rally; however, White House physician Dr. Sean Conley stated that the president "may not entirely be out of the woods yet."

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

  • This pharmaceutical stock rose after providing Trump's antibody cocktail.
  • Behind Exxon Mobil's leaked plans to increase CO2 emissions, and what that meant for its stock. 
  • Plus, Southwest is cutting salaries to avoid layoffs; more on Dollar Tree's seasonal hiring plans; and positive news regarding one biotech name's cancer treatment.

Futures Chart October 6

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.2 million call contracts traded on Monday, and 629,220 put contracts. The single-session equity put/call ratio fell to 0.49 and the 21-day moving average also fell to 0.54. 
  2. In order to avoid furloughs and layoffs, Southwest Airlines Co (NYSE:LUV) is asking its employee unions to agree to pay cuts. This will result in non-union salaries being cut by 10% until the beginning of 2022. LUV is down 0.4% ahead of the bell in response. Longer term, Southwest stock has shed 28.7% in 2020.
  3. Dollar Tree, Inc. (NASDAQ:DLTR), meanwhile, is gearing up to hire for the holiday season. In fact, the discount retailer is planning to hire 25,000 seasonal workers, with many going to the company's distribution centers, as online shopping surges. DLTR is up 0.6% before the open, but down 22.3% year-over-year.
  4. Amgen, Inc. (NASDAQ:AMGN) is hovering just above fair market value in pre-market trading. The catalyst for today's early rise can be chalked up to the positive results seen in the biotech giant's phase 2 study of an experimental treatment for non-small cell lung cancer. Meanwhile, AMGN boasts a 30.9% year-over-year rise.
  5. Today, investors will digest the U.S. Bureau of Labor Statistics' Job Openings and Labor Turnover Survey (JOLTS) job openings data, as well as a weekly crude oil update and a short-term energy outlook from the U.S. Energy Information Administration (EIA). Later in the day, Levi (LEVI) will step into the earnings confessional.

Buzz Chart Oct 6

Stocks in Asia, Europe Rise for Second-Consecutive Day

Stocks in Asia ended the day higher, taking a cue from the strong weekly start of their U.S. counterparts. Japan’s Nikkei added 0.5%, with help from auto and financial stocks. Meanwhile, Hong Kong’s Hang Seng rose 0.9%, the Kospi in South Korea tacked on 0.3%, and China’s Shanghai Composite remained closed for holiday.

In Europe, markets are taking cue from their Asian counterparts, and moving higher at midday. London’s FTSE 100 is up 0.2% at last check, while the French CAC 40 posts a 0.7% rise, and the German DAX enjoys a 0.6% pop.

 

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