Dow Futures Modestly Higher on Upbeat Jobs Data

Meanwhile, investors are keeping an eye on any stimulus updates

Deputy Editor
Dec 3, 2020 at 9:29 AM
facebook twitter linkedin

Futures on the Dow Jones Industrial Average (DJI)  are pointed marginally higher in pre-market trading, as Wall Street keeps an eye on any updates about a second stimulus package from congress. S&P 500 (SPX) and Nasdaq Composite (IXIC) futures are somewhat static this morning, too, with the SPX clinging close to fair value following its second-straight record close. Meanwhile, good news came in the way of jobs data, as weekly jobless claims came in at 712,00 for last week -- lower than the expected 780,000. 

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

  • Teladoc stock could soon overcome pressure on the charts. 
  • A look at Pfizer's bullish options surge after its vaccine update. 
  • Plus, the retailer plummeting after third-quarter losses; analysts chime in on CRWD after earnings; and SFIX drops on a downgrade. 


5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.9 million call contracts traded on Wednesday, and 799,956 put contracts. The single-session equity put/call ratio rose to 0.40 and the 21-day moving average stayed at 0.43. 
  2. Express (NYSE:EXPR) is down a whopping 24.4% in pre-market trading, after much steeper-than-expected third-quarter losses per share alongside a revenue miss. Heading into today, the equity is down 67.6% year-to-date. 
  3. CrowdStrike (NASDAQ:CRWD) is up 12.3% before the bell, after positive third-quarter results and an upbeat fourth-quarter forecast. To follow, no fewer than nine analysts raised their price targets, with the highest from Needham to $200. Coming into today, the security is posting a 184.4% year-to-date gain. 
  4. Stitch Fix (NASDAQ:SFIX) is down 3.3% in electronic trading, after Wells Fargo downgraded the stock to "underweight" from "equal weight," citing an unfavorable risk/reward model moving forward. Up 53.5% in 2020, the analyst in coverage sees SFIX's rally running out. 
  5. Today will bring Markit Services PMI and ISM services index information. 

Buzz Chart Dec 3

Asian, European Stocks Mixed

Asian markets were mixed today, as investors unpacked the results of the Caixin/Markit services Purchasing Managers’ Index (PMI) for November, which came in higher than October’s reading at 57.8, signifying expansion. Nonetheless, Japan’s Nikkei dropped 0.03%, and China’s Shanghai Composite pulled back 0.2%. Elsewhere, South Korea’s Kospi was 0.8% higher, and Hong Kong’s Hang Seng added 0.7%.

Meanwhile, European stocks are mostly lower, on trend with the lukewarm trading activity seen in other global markets. Investors are keeping a close eye on stimulus discussions in Washington, and waiting for a coronavirus vaccine approval in the U.S. In turn, the German DAX was last seen down 0.5%, while France’s CAC 40 has dropped 0.4%. Elsewhere, London’s FTSE 100 is up 0.3%.




Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners